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FSB urges government to learn regulatory lessons from COVID pandemic

28 Jun 2022

The Federation of Small Businesses (FSB) has urged the government to 'lean lessons from the implementation of coronavirus (COVID-19) health measures' to generate a regulatory business environment that steers away from recession.

The FSB found that 35% of small businesses found it quite or very difficult to understand government regulations relating to COVID-19 security. 22% of firms said that the line between pandemic advisory guidance and regulatory requirements was 'totally unclear'.

Martin McTague, National Chair of the FSB, said: 'With economies now thankfully unlocked, this is the moment to step back and assess what broad regulatory lessons can be learned from the pandemic.

'While it is understandable that governments and regulators had to act at great speed as the circumstances of the pandemic evolved, some of the regulatory shortcomings were consistent with problems encountered in more normal times, including around clarity and communication.

'The gold plating trend that we saw over the lockdowns is not confined to health measures: this is a wider issue that drains firms of the resources they need to innovate, upskill and recruit as we work to secure our economic recovery.'

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Registered in England, Company Registration number – 7906656. Registered Office – 58b High Street, Stony Stratford, Milton Keynes, MK11 1AQ. Registered with the Chartered Institute of Taxation as a firm of Chartered Tax Advisers. Registered to carry out audit work and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales.