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Thursday 28 June 2007 17:11
Department for Business, Enterprise and Regulatory Reform (National)
Department for business, enterprise and regulatory reform established
John Hutton, the new Secretary of State for Business, Enterprise and Regulatory Reform, today welcomed the creation of a department to equip Britain to seize new opportunities in the changing global economy.
The Department for Business, Enterprise and Regulatory Reform (DBERR) will lead work to create the conditions for business success through competitive and flexible markets that create value for businesses, consumers and employees. It will work across Government and with the regions to raise levels of UK productivity, promoting the creation and growth of business.
John Hutton said: "I am delighted to be the Secretary of State for Business, Enterprise and Regulatory Reform, leading the work to create a more dynamic, flexible and competitive economy.
"I look forward to building on the significant successes of the past decade, in which the number of businesses in the UK has grown by more than 600,000, the UK has remained Europe's leading destination for inward investment and its competition regime has been ranked third in world.
"My priority will be to deliver the business environment Britain needs to continue to prosper and compete in global markets.
"In the face of continuing globalisation, it is the success of businesses that will underpin wealth creation and opportunity for everyone in Britain. To support that success, I will build deeper, more effective relationships with the business community and promote the competitiveness agenda across Government."
The new department will:
* Promote the creation and growth of business and a strong enterprise economy
* Deliver free and fair markets with greater competition for businesses, consumers and employees
* Ensure the reliable supply and efficient use of clean, safe and competitively priced energy
* Ensure that all Government Departments and agencies deliver better regulation for the private, public and third sectors
* Manage a wide range of Government assets - including interests in public corporations
The Department will have joint responsibility with the Department for International Development (DFID) on trade policy. The Departments will work to ensure the UK secures open markets and effective competition for UK business and developing countries. Through UK Trade and Investment (UKTI), joint with the Foreign and Commonwealth Office, the DEBRR will support companies doing business internationally and overseas enterprises seeking to locate in the UK.
The DBERR will also be responsible for ensuring that the UK benefits from the existence of free and fair markets, both domestically and internationally. This will include responsibility for establishing the UK's competitive market framework, ensuring markets work to the benefit of business, investors, employees and consumers.
The promotion of better regulation across the business, public and third sectors will be a core objective. To this end, the Better Regulation Executive will move from the Cabinet Office to the new Department.
The DBERR will also have responsibility for energy policy where its focus will be on delivering clean, safe and secure energy supplies, and for maintaining the UK's position amongst the top three most competitive energy markets in the EU and the G7. The Department will deliver the Energy White Paper and nuclear consultation document.
Government as a shareholder
Through the Shareholder Executive, the Department will manage a wide range of Government assets, including interests in public corporations such as Royal Mail, British Nuclear Fuels and the Royal Mint, and provide a source of excellent corporate finance expertise within Government.
The Department will also work very closely with the new Business Council for Britain - including providing support to the Council to ensure that the Council has the resources needed to make a real impact in shaping the policy agenda.
Department for Business, Enterprise and Regulatory Reform
1 Victoria Street
London SW1H 0ET
Public Enquiries +44 (0)20 7215 5000
Textphone +44 (0)20 7215 6740
(for those with hearing impairment)
Client ref 2007/002
GNN ref 148787P