Auto-enrolment will curtail small business growth - Beecroft report

clock

Auto-enrolment (AE) requirements should be slashed in order to help businesses grow, a controversial report commissioned by the department for Business, Innovation and Skills has recommended.

The Report on Employment Law, in which senior Conservative Party donor Adrian Beecroft suggests ways of cutting red tape, said auto-enrolment will "reduce the number of jobs in the country by 60,000" at least by preventing small businesses from expanding. Business secretary Vince Cable (pictured) said BIS published the report to "dispell myths" associated with it, and has dismissed some of its recommendations as "complete nonsense". Beecroft, who owns venture capital firm Dawn Capital, recommended the government excludes businesses with fewer than five employees from AE with an amendm...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Two firms declared in default by FSCS over pensions advice

Two firms declared in default by FSCS over pensions advice

Both Oakwood Financial Management and GO IFA are no longer trading

Isabel Baxter
clock 11 April 2024 • 1 min read
FCA lays out 2024/25 fees/levies proposals; £755m planned spend

FCA lays out 2024/25 fees/levies proposals; £755m planned spend

‘We recognise that firms continue to face inflationary pressures’

Hope Coumbe
clock 09 April 2024 • 4 min read
FSCS places Lancashire firm Frodsham Financial Planning in default

FSCS places Lancashire firm Frodsham Financial Planning in default

Advice practice formerly traded as Tom Carroll Associates FP

Hope Coumbe
clock 13 February 2024 • 1 min read