Regulatory burden complaints 'drop'

Less companies have complained about regulatory burdens in 2007 than a year earlier, according to new research from the Institute of Chartered Accountants in England & Wales (ICAEW).

In last year's survey, over half of respondents complained that regulations were causing their businesses problems, but this year's figure stood at 36 per cent.

A further finding from the study was that 26 per cent of medium-sized firms think employment regulation is their biggest administrative burden.

Clive Lewis, head of medium sector issues at the ICAEW, commented: "It is encouraging to see that companies continue to be confident in their ability to grow despite the strain of regulation.

"Businesses look to government to encourage a better environment for enterprise and, despite an apparent slowdown in the amount of regulation, it is crucial for UK plc as a whole that reducing this enormous burden remains a top priority."

He added that a considerable amount of attention has been given to regulatory burden during the year so far, which is "encouraging".

The ICAEW also announced this week that it has put forward practical recommendations to try to alleviate the impact of recently-announced changes to the capital gains tax system.