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New proposals from a Conservative policy group could see red tape cut for businesses to the tune of 3.7 per cent annually for a five-year period.
The partys economic competitiveness review group, which was chaired by John Redwood, suggested that such a move would save businesses in the region of £14 billion.
With these new tax planning measures, Mr Redwood said the plans were effectively "a tax cut by any other name".
Business start-ups will be encouraged by the news of a potential cut in bureaucratic procedures and legislation.
Mr Redwood wrote in the report: "The Conservative party, under David Cameron, has emphasised that it will take no risks with economic stability.
"We have therefore taken it as axiomatic in carrying out this review that no policy would be recommended or implemented if there were a serious body of expert opinion that it could in any way endanger economic stability, and thereby lead to an increase in interest rates."
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