Nicholas Soames: To ask the Secretary of State for Business, Innovation and Skills what barriers to increasing the dynamism of markets he has identified; and which of these barriers he has removed since his appointment. [39213]

Mark Prisk MP; Minister of State (Business & Enterprise): Enabling private-sector and industry-led growth are the priority for this Government.

To achieve this, we have already taken a number of important steps-for example:

Stemming the flow of new regulation by introducing a One in, One out rule for new regulations;

Extending the Enterprise Finance Guarantee and launching a Green Paper on business finance, to ensure that small businesses have access to the finance they need to grow;

Reducing the small companies' rate of corporation tax to 20% from April this year and committing to cut general corporation tax to 24% by 2014, one of the lowest rates in the G20.

However, there is still more to do, which is why the Growth Review is currently looking at what BIS, and the Government as a whole needs to do, to create the positive business environment required to enable businesses to start-up, invest and grow.