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Heathcoat-Amory: Spring Forum Speech 2001

Tax Cuts for Small Business

The number of Civil Servants at the DTI has rocketed since 1997. Bureaucracy is now Britain's fastest growing industry. I will reduce the number of Civil Servants at the DTI and slash red tape, producing savings of £425m. Of that, £200m will go to fund tax cuts for small businesses. The rest of the savings will go towards the tax cuts we have been announcing for savers, pensioners and hard working families.

"Small businesses are the kernel of our future prosperity and growth. They deserve our assistance. Instead business in Britain has to cope with 300 new regulations every month. A recent example that amused me is the Undersized Spider Crab Order 2000, which even contains a picture of a crab.

"I want less government, more business. That's why I can announce that we will repeal the tax on entrepreneurs, IR35, and we will repeal the Climate Change Levy, a tax which comes into play in just four weeks and has no environmental justification.

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