Government 'committed' to strong, sustainable growth

The government says it has set out a comprehensive strategy which aims to achieve strong, sustainable and balanced growth. In a statement it said:

"Savings to business from cuts in regulation have outweighed the costs of new domestic regulation by more than £850m and reform of labour laws has already led to an increase in the qualification period for unfair dismissal and reform of employment tribunals.

The financial district of London
The financial district of London Credit: Press Association

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Business reforms 'ineffective'

Business leaders say government reforms such as reducing red tape and simplifying employment law have been ineffective. A study also shows serious concern that the recession will continue for the rest of the year.