27/01/2014 11:57 AM
Prime minister David Cameron will deliver a speech to the Federation of Small Businesses today (January 27th) which outlines regulation that allows companies to hit their environmental targets during construction. It is the first time in modern history that the government has moved to reduce overall domestic regulation for business. Ministers are expected to cut tens of thousands of pages of red tape in the coming weeks on top of 800 regulations which have already been abolished.
Housing has been highlighted as a driving force behind the positive performance of the construction sector. New schemes such as Help to Buy has allowed more people to get their foot on the property ladder and in turn allowed for a boost in work for construction firms. Mr Cameron recently stated that the mortgage guarantee had received 6,000 applicants since launching, adding to a value of nearly £1 billion.
The prime minister now wants to promote the uptake of new housing even further by introducing a raft a changes to the current regulation. Among the plans, the government will be helping house builders by slashing 100 "overlapping and confusing standards" which are currently applied to new homes. This will help to save home builders £60 million a year and around £500 for every house built.
Mr Cameron will say: "Supporting business is a crucial part of our long term economic plan, creating jobs and security for all. That is why, among so many other things, I have insisted on slashing needless regulation. We will be the first government in modern history to have reduced - rather than increased – domestic business regulation during our time in office."
Once implemented businesses will be able to benefit from £2,000 being cut from their jobs tax and a £1.1 billion package of rates relief.
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