Election 2010: Labour pledges £6bn cut in business regulation costs

The party document promised to achieve the saving by continuing to "simplify regulation and avoid unnecessary red tape", and added if used correctly regulation can help drive innovation, as well as protect workers and consumers. Labour also promised to keep business taxation "competitive", at the same time increase capital allowances to encourage investment. Wealth creation and cuts in red tape are ‘at the heart' of Labour policy according to the party document, which sets out Labour's stall ahead of the 6 May General Election Gordon Brown announced last week. In the chapter 'Build...