PRESS RELEASE

15 April 2002

OTTAWAY SAYS LOCAL BUSINESSES ARE DROWNING IN RED TAPE

Local MP, Richard Ottaway, has warned that unless urgent action is taken by the Chancellor in his budget, businesses in his constituency are in danger of being strangled by an ever growing burden of red tape and bureaucracy.

Richard Ottaway's warning follows a pre-budget survey he has recently conducted amongst local businesses. This survey asked a number of questions relating to steps that the Chancellor could and should announce in this year's budget. It also sought to establish the feeling of local business as to what the next twelve months may hold.

Richard Ottaway says:-

"The results of this survey make interesting, if depressing, reading. They may not be scientific, but they do send some very clear and interesting messages. Local businesses could be greatly helped by a sensible business-friendly budget. In particular they are looking for a cut in Corporation Tax and Capital Gains Tax."

"However, the most striking thing to emerge from the replies I have received was the huge amount of time many respondents are having to spend filling in forms and dealing with red tape. The Labour Government came to power promising to cut bureaucracy, but this survey shows that many businesses are in danger of drowning in a sea of paperwork".

"The Chancellor has the chance to act in next Wednesday's Budget and I call on him to stop paying lip service to the needs of local business and start cutting the burdens that stifle enterprise."

Ends.