Bureaucrats are bombarding British firms with 'unwarranted and heavy-handed' red tape, a top business leader claimed last night.
The head of the country's biggest business lobby group expressed his fury at 'shockingly bad' regulations dreamed up in Brussels. John Cridland, director-general of the CBI, used his speech at the organization's annual dinner in central London to target the spools of red tape restricting UK companies.
He called for the government to 'apply a simple question' to every decision on regulation: "Will this encourage private sector growth? "If the answer is no, then we need them to reconsider - and fast."
His plea follows official figures showing unemployment has hit 2.75million, the worst figure for 17 years. Mr Cridland singled out two European proposals which would significantly harm the professional and financial services, 'which ae being bombarded with unwarranted, heavy-handed regulation'.
He said one proposal Solvency II - which would force pension funds to move into more cautious investments, such as government bonds was 'shockingly bad'. It could lead final-salary schemes to sell almost 1trillion of shares, which Mr Cridland warned would be 'catastrophic' for the volatile stock market.
He also said that London would be totalled by a so-called Tobin tax on financial transactions. He added that the levy had been a disaster in Sweden, where is was introduced in the 1980s - and swiftly scrapped. A Treasury spokesman said: "The Government will continue to engage with its international partners on financial transaction taxes and has no objection to them in principle." They admitted that practical issues would have to be resolved, as such a tax 'would have to apply globally'.
Taken from the Daily Mail 14thOctober 2011
It comes as no surprise that un elected EU Bureaucrats want to stifle business throughout the European Community. The fact of the matter is, that through leaked information, via moles inside organisations such as the Bilderburg group, the elitist agenda to shut down businesses, except for those that are elitist controlled, have been busted wide open. By implimenting costly business regulations that only the big elitist controlled companies can afford, you not only get rid of your competition but you also add to the woes of an already unstable world financial system via increased unemployment and weaker financial growth in the private sector.
Make no mistake, the elite controllers are going to implode the economy at some later point in the future. According to Pastor Lindseys latest revelations as of October 2011, the elite are undertaking a huge program to get countries and people in debt via bailouts and loans.