The Federation of Small Businesses (FSB) has proposed a set of pro-growth measures to some of the UK’s leading regulators.
The measures are designed to ‘unlock small business growth’ and are aimed at seven UK regulators, including the Financial Conduct Authority (FCA), the Finance Reporting Council (FRC), Ofgem, Ofwat, Ofcom, the Competition and Markets Authority (CMA) and the Information Commissioner’s Office (ICO).
In a letter to the regulators, the FSB said it believes they ‘have a duty to take a long hard look at current activities in their sphere for their impact on economic growth – to be pro-growth and pro-investment in their undertakings’.
Tina McKenzie, Policy Chair at the FSB, said: ‘Regulators must grasp this opportunity to propose small business growth measures within their activities and remits. We’re also keen to see ministers and all public bodies put their shoulders to the wheel on growth, alongside business and industry.
‘Regulating for growth doesn’t always mean deregulation – sometimes it means better protection for small firms as consumers.’ The FSB’s measures can be read in full here.
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