Feeds

Biz law reform: Bad news for lawyers, good news for hippies

Eco-tech funds in, tribunals out in draft bill

Using blade systems to cut costs and sharpen efficiencies

Vince Cable presented his new Enterprise and Regulatory Reform Bill to Parliament on Wednesday afternoon, promising more action on competition, streamlined employment tribunals and a £3bn Green Bank that will funnel cash into eco-friendly energy and tech industries.

The proposed changes to employment law will encourage work-related disputes to be settled by negotiation with the independent ACAS body, rather than tribunals, a process that should be faster and cheaper than the litigation route. Plans to stop people with less than two years' employment at a company from launching unfair dismissal cases have been dropped, however.

In a move to throttle directors' outlandish salaries, the Business Secretary's draft law also gives shareholders the ability to hold binding votes on board executives' pay.

Cable also announced an extension to copyright for artistic works, extending it to the author's life plus 70 years.

Meanwhile, the new Competition and Markets Authority proposed by the bill will bring together the monopoly probing functions of the Office of Fair Trading and the Competition Commission, and will be the principal competition authority with a remit to tackle anticompetitive behaviour.

Cable said:

Growing our economy out of a period of acute crisis is the most pressing issue for this Government. 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.

However, Labour’s shadow business secretary Chuka Umunna said the bill didn't provide a “compelling vision” for economic growth.

The proposals must now make their way through Parliament before the bill becomes law. ®

The Essential Guide to IT Transformation

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
Bose says today IS F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales
Investors really hate it: Share price plunge as growth SLOWS in key AWS division
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.