Commenting on the business elements in the coalition’s programme for government, David Frost, Director General of the British Chambers of Commerce (BCC), said:

“The BCC has campaigned hard on policies to create a better business environment and we are pleased that many of these ideas feature in the coalition’s programme for government.

“Plans to reduce the burden of red tape, review employment law, automate small business rate relief, and improve the competitiveness of the tourism industry are particularly pleasing.

“We will be pressing for more detail on the coalition’s proposals around reforming capital gains tax and simplifying reliefs and allowances. Changes to these tax regimes have the potential to either help or hurt the UK business environment so ministers must tread carefully to avoid affecting entrepreneurship and enterprise.

“The coalition’s steps to roll back the rise in employer National Insurance will help. But, the increase needs to be cancelled in full to support business growth and job creation.

“Moves to improve access to finance for smaller firms – the engine room of our economy – will be welcomed by many within our membership.”