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News > People

Gov makes changes to business laws

By Emma Eversham , 01-Oct-2008

Related topics: People

The government brings in a range of new laws for businesses today, including an increase in the National Minimum Wage rate

A new range of laws affecting businesses come into force today, including an increase in the National Minimum Wage rate. 

 

From today the NWM rises to £5.73 an hour for employees over 22, to £4.77 for those aged 18 to 21 and to £3.53 for those between school leaving age and 18. 

 

Under the changes, any restaurateur, hotelier or publican wishing to sell their building, must have an Energy Performance Certificate, which costs between £700 and £1k.

 

There are also changes to the display of employers` liability compulsory insurance certificates. Although these must still be displayed at every site, this can now be done digitally, providing all employees have access to the details.  The practice of framing and displaying the certificates had previously been considered an administrative burden for companies with a large number of sites. 

 

Business and Competitiveness Minister Shriti Vadera said: "Many of the important changes coming into effect this October bring significant benefits for businesses. For example, abolishing the need to display insurance certificates and simplifying information requirements for firms will save them about £80million."

 

"Certain regulation is necessary to protect people and businesses across the UK. It ensures a level playing field, promotes competition and allows markets to operate effectively.

 

"However, we do understand that regulation is a concern for business. This is why we are driving forward an ambitious programme to save business and the third sector £3.5 billion in administrative costs by 2010."

 

A full list of all the changes can be found at www.businesslink.gov.uk/ccd

 

 

 

 

Keywords: business law, Energy Performance Certificate, National Minimum Wage, nmw

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