Tom Sheahan (Kerry South, Fine Gael)
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Question 96: To ask the Minister for Enterprise; Trade and Innovation if he is satisfied with the progress to date in delivery to the enterprise sector of the promised €500 million reduction in unnecessary compliance costs; and if he will make a statement on the matter. [36500/10]

Batt O'Keeffe (Cork North West, Fianna Fail)
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International benchmarking statistics reveal that Ireland imposes a relatively low burden of regulation on business. The Forfás Annual Competitiveness Report 2010 states that Ireland's regulatory environment is one of the least restrictive in the OECD in relation to product market regulation, the time taken to comply with tax payments is one of the lowest in the OECD across all categories and Ireland's employment framework is less rigid than the OECD average.

The work to reduce red tape in Ireland is being progressed on two fronts. The High Level Group on Business Regulation works to fast-track simplifications to specific red tape issues identified by business; and an Inter-Departmental Group of officials from all Departments, having regulation affecting business, coordinates the measurement and reduction of administrative burdens in a systematic manner, based on the internationally recognized Standard Cost Model. The High Level Group has processed thirty specific red tape issues brought to its attention by business and continues to drive progress on a further thirty-eight items. To date, the Group has measured over €20m of annual business savings and continues to work with business interests.

In addition, further burden reductions achieved and in the process of being measured will contribute to the Government's overall target of 25% administrative burden reduction by 2012.

Seymour Crawford (Cavan-Monaghan, Fine Gael)
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Question 98: To ask the Minister for Enterprise; Trade and Innovation steps being taken by him to reduce the red tape being imposed on industry here; his views on whether it is impeding the ability of companies to concentrate on marketing and give increased employment; the amount that could be saved by the removal of red tape; the efforts he has made to improve the situation; and if he will make a statement on the matter. [36184/10]

Batt O'Keeffe (Cork North West, Fianna Fail)
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The work to reduce red tape in Ireland is being progressed on two fronts. The High Level Group on Business Regulation works to fast-track simplifications to specific red tape issues identified by business; and an Inter-Departmental Group of officials from all Departments, having regulation affecting business, coordinates the measurement and reduction of administrative burdens in a systematic manner, based on the internationally recognized Standard Cost Model.

International benchmarking statistics reveal that Ireland imposes a relatively low burden of regulation on business. The Forfás Annual Competitiveness Report 2010 states that Ireland's regulatory environment is one of the least restrictive in the OECD in relation to product market regulation, the time taken to comply with tax payments is one of the lowest in the OECD across all categories and Ireland's employment framework is less rigid than the OECD average.

The High Level Group has processed thirty specific red tape issues brought to its attention by business and continues to drive progress on a further thirty-eight items. To date, the Group has measured over €20m of annual business savings and continues to work with business interests. In addition, further burden reductions achieved, and in the process of being measured, will contribute to the Government's overall target of 25% administrative burden reduction by 2012.

The measurement of administrative burdens using the Standard Cost Model is an exercise that was called for by business, as a baseline for the 25% administrative burden reduction programme, and is being carried out across all Departments with any substantive regulation that affects business. My Department and the Central Statistics Office have already measured burdens arising from regulations under their responsibility and all other relevant Departments will shortly measure the current red tape costs on business arising from their regulation. Measurement is expected to be completed in 2011 and, following this, simplification plans will be developed in consultation with stakeholders, for implementation.

The Business Regulation Forum estimated that upwards of €500 million in annual savings for business would result from the 25% administrative burden reduction initiative. A number of projects are already proceeding in Agencies and Departments across Government as part of their continuing drive to improve efficiency and streamline the interface with business and these will also contribute to the Government's overall target to reduce the administrative burden by 25%.

Terence Flanagan (Dublin North East, Fine Gael)
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Question 99: To ask the Minister for Enterprise; Trade and Innovation to reconsider his stance on directors' compliance statements in light of recent experience; and if he will make a statement on the matter. [36466/10]

Batt O'Keeffe (Cork North West, Fianna Fail)
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Section 45 of the Companies (Auditing and Accounting) Act 2003 dealing with directors' compliance statements was not commenced in the light of concerns expressed about the associated administrative burdens. In 2005, the then Minister for Trade and Commerce asked the Company Law Review Group to consider the matter. The Review Group recommended a revised text which was published as part of the Heads of the General Scheme of the Companies Consolidation and Reform Bill. The Bill is currently being drafted by the Office of the Parliamentary Counsel.