Legislative Reform (Limited Partnerships) Order 2009

Once again, I thank the Minister for introducing the order. Reducing unnecessary regulatory burdens on both the public and private sectors is a worthwhile aim that is supported on these Benches and, I am sure, around the House, so to that extent the order is welcome. According to the Explanatory Memorandum, the Law Commission originally recommended these changes in 2003, so why has it taken the Government over five years to make them law? The Minister will understand that this does not reduce our scepticism on these Benches about quite how high a priority legislative reform is for the Government. I have to wonder, for example, how many venture capital funds have chosen to register under a different jurisdiction during this period. On a more positive note, while on that subject, the British Venture Capital Association had asked me to ask the Minister if he could do anything to arrange that from October Companies House would be able to offer same-day limited partnership registration, so I am grateful for his assurance in that regard. On the policy section of www.labour.org.uk there is a small entry that states: ""In 2009, the administrative burden on business of regulation will be reduced by almost 20 per cent making it easier and cheaper for businesses of all sizes to grow"." That is quite a commitment. One has to ask how on earth, having dismissed tools such as regulatory budgets and sunset clauses, the Government intend to achieve that reduction. Six months into 2009, how much progress has been made? According to the noble Lord the First Secretary of State, the new better regulation sub-committee of the National Economic Council will scrutinise planned regulation. That was said over three months ago. Would it be possible to have a report on what the committee has achieved so far? How many legislative reform orders have been laid before Parliament this year, and how many regulations have been introduced in the same period? The most recent small-business survey found that health and safety regulations are the most burdensome regulation from the perspective of small businesses. What recent discussions have been had with the Minister’s counterparts in the Department for Work and Pensions to ensure that the Health and Safety Executive vigorously sets about the task of removing unnecessary regulation in the same zealous fashion in which it introduces it? In the Making it Simple Annual Review 2008, the noble Lord, Lord Carter, states that the Government are on target to reduce the overall burden of regulation by 25 per cent. Is the Minister able to square this figure with the most recent Burdens Barometer produced by the British Chambers of Commerce, which found that the total cost of regulation to business since 1998 had risen to £76.8 billion, an increase of £10.8 billion on last year, and a recent CBI statement that government regulation of business had reached what it called a "tipping point"? In a recession, businesses need better, rather than more, regulation. I finish by drawing attention to the difference between effectively regulating the financial services sector and overburdening small firms with red tape.