Feeds

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

Eco-tech funds in, tribunals out in draft bill

Beginner's guide to SSL certificates

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. ®

Providing a secure and efficient Helpdesk

More from The Register

next story
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
'Cowardly, venomous trolls' threatened with TWO-YEAR sentences for menacing posts
UK government: 'Taking a stand against a baying cyber-mob'
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Arab States make play for greater government control of the internet
Nerds told to get lost in last-minute power grab bid at UN meeting
Zippy one-liners, broken promises: Doctor Who on the Orient Express
Series finally hits stride, but Clara's U-turn is baffling
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
Apple SILENCES Bose, YANKS headphones from stores
The, er, Beats go on after noise-cancelling spat
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.