Bank of England condemns rise of red tape

In a report published on Thursday 24 Aprilthe Bank of England criticised proposed changes to the Consumer Credit Act saying it could lead to more complex regulation and limit competition.

Source: Daily Telegraph

Regulations and EU directives are hampering small businesses and causing them problems in raising finance, the Bank of England claimed yesterday.

In a tough rap across the Government's knuckles over red tape, its latest annual survey said the proposed changes to the Consumer Credit Act "