Calls for cuts to insurance and currency red tape

Calls for cuts to insurance and currency red tape

Calls to the government to cut red tape surrounding topics such as insurance and currency have been revealed in a new survey by ABTA. The association’s Red Tape Taskforce has identified eight laws that its members thought should be dropped or changed to help the travel sector to grow. The results will be put forward to the UK government. Legalisations included the removal of travel insurance sales from FSA regulation and a different approach to money laundering laws which impacts selling foreign currency. “This Government has repeatedly made clear its commitment to growth. With figures yesterday showing the economy in danger of stagnating, these recommendations are a timely reminder that freeing up the private sector can help encourage economic growth,” said Mark Tanzer, chief executive of ABTA. John Penrose, tourism minister welcomed the recommendations. “The clammy hand of bureaucracy and over-zealous regulation has been holding back business and enterprise for far too long. And the tourism, travel and hospitality sectors have suffered more than most,” he said. “ABTA’s contribution to the work, as shown in this report, is entirely welcome and will be studied with great interest”.

Gary Marshall
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Gary Marshall
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