4 Jul 2012

Enterprise Bill published

Business secretary Vince Cable has presented the Enterprise and Regulatory Reform Bill to Parliament in a bid to make Britain more enterprise-friendly

"Growing our economy out of a period of acute crisis is the most pressing issue for this government," he said. "We want to make sure the right conditions are in place to encourage investment and exports, boost enterprise, support green growth and build a responsible business culture."

Measures include binding shareholder votes on directors’ pay and giving £3bn of initial funding to the UK Green Investment Bank to help it "accelerate long-term private sector investment in the UK’s transition to a green economy".

The Bill will streamline the employment tribunal system and merge the Office of Fair Trading and the Competition Commission to create a Competition and Markets Authority. It will tackle anti-competitive behaviour and ensure dynamic and open markets.

There are also measures to extend copyright for mass-produced artistic works for the life of the creator plus 70 years and to deter the import and sale of unauthorised replicas of classic designs.