By Jonathan Davies

New business secretary Sajid Javid will today (Tuesday) outlined his plans to cut £10 billion worth of red tape for small businesses over the next five years.

The government says the reduction in red tape will give small businesses the boost and the ability they need to grow in domestic and foreign markets.

In his first speech as business secretary, Mr Javid, will explain that the Enterprise Bill will play a central part in the Queen's Speech.

The plans follow a report by leading UK businessmen in 2013 which called for the EU to cut or amend 30 pieces of red tape rules. Mr Javid's speech comes as the European Commission is also expected to announce plans to cut red tape across the EU.

Mr Javid is expected to say: “Small businesses are Britain’s engine room and the success of our whole economy is built on the hard work and determination of the people who run and work for them.

"As Business Secretary I will always back them and, in my determination to get the job done, one of my first steps will be to bring forward an Enterprise Bill that helps them to succeed and create jobs."

John Allan, national chair of the Federation of Small Businesses (FSB), said: “Our members have been clear on the need to make progress on cutting burdensome red tape and on addressing issues like the billions owed to small businesses in overdue payments. These are not easy issues to tackle and we will need the Minister to work closely with our members and the wider business community to find solutions. We look forward to working with the Business Secretary and his team over the coming months."