Gordon Brown targets red tape in his speech to the CBI

The Chancellor Gordon Brown today said that the Labour government was committed to cutting red tape.

Speaking at the CBI’s annual conference Brown highlighted the need to reduce regulation to aid businesses, in line with Building’s own Reform the Regs campaign.

Brown’s comments were welcomed by CBI director-general Richard Lambert who said: “Employers understand the need for regulation and support it when it is well considered. However they do not like red tape which ties them in knots when they would rather be getting on with the business of their business.”

Brown also said that he was encouraged by the prospects brought about by the 2012 Olympic Games to be held in London: “What I've witnessed the remarkable growth of financial services here in London and been to East London to see how a derelict but massive plot of land can be transformed into the scene of not just an Olympic Games but of urban renewal and regeneration.”