10-07-2007
Small firms will benefit from new government department
Small businesses in the UK, including those with business insurance, are set to "benefit greatly" from the newly formed Department for Business, Enterprise and Regulatory Reform, according to one industry expert.
John Walker, Federation of Small Businesses (FSB) national policy chairman, suggests that the new structure will work if it "does what it says on the tin in terms of regulation".
As part of the changes, Stephen Timms has become the new small business minister - a move welcomed by the FSB.
"We hope that Stephen Timms' experience at the Treasury will have given him some understanding of the dismay felt by small companies following the unexpected and unwelcome tax rise imposed upon them in the last Budget," said Mr Walker.
"We look forward to working with him to improve the regulatory environment for small businesses and highlight their concerns across government."
Mr Timms' previous role was that of Treasury cabinet minister.
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