I certainly think that some deregulation can help small businesses, and I also think that small businesses find it harder to deal with. What I object to is the fact that we are talking in vast generalisations. Let us instead talk about specific regulations. By and large—apart from, for instance, the clause about knitting yarn—the Bill contains none of the measures that small businesses in my constituency are crying out for. As I have said, what they would love to see are changes in the whole economic environment, such as the introduction of a higher threshold before business rate relief comes in. that. That would make a huge difference to them.
Let me now say something about the growth duty. I fear that it will interfere with, and impinge on, the ability of organisations to play crucial roles. The idea that growth must come before everything is a mantra and an ideological obsession, and it seems to me that an obsession with short-term GDP growth at any cost is simply not in the public interest. The Government’s justification for the growth duty has been inconsistent
and incoherent. Regulators are already subject to a statutory duty to regulate proportionately, to be transparent and accountable, and to target activities only when that is necessary. That legislation is already there.
Ministers give assurances that the independence and effectiveness of organisations in carrying out their duties will not be undermined. A Government consultation paper states:
“Supporting growth and stripping back burdens are not sufficiently prioritised.”
However, it also states that
“the regulators would need to be able to demonstrate that they have considered the economic impact of their actions when making decisions”,
and that
“the duty is intended to be complementary to, and not override… existing duties.”
I do not understand why the new growth duty is necessary. As the consultation paper makes clear, regulations already exist, and we already know that the bodies concerned must take into account the impact of their proposals on the wider economy.
It seems to me that what we have here is yet another knee-jerk reaction. Growth must come before everything else—protecting workers’ rights, public health, equality, fair treatment, and the environment—and that, in my view, is a very negative approach.
5.54 pm