BUSINESS leaders in Bury and Bolton have sounded a broad welcome to the publication of the Government's Competition and Insolvency White Papers.

Andrew Ratcliff, chief executive of Bolton and Bury Chamber, said: "Any measures to help businesses trade openly and fairly and thereby grow and succeed must be welcomed.

"The development of an entrepreneurial culture is absolutely vital and it is right that the Government should strip away unnecessary barriers that stifle this spirit."

Mr Ratcliff added: "We need to examine the detail of the Government's proposed reforms to competition law, but in principle, we support their efforts to introduce fair competition and drive out anti-competitive practices.

"It is right that the Government should offer consumers, aggrieved businesses and the authorities effective mechanisms to pursue their concerns."

In response to the proposed Insolvency Law measures, he went on: "In order to encourage a more positive entrepreneurial climate in the UK, it is vital that we give those who innocently fail with their first attempt, a second chance.

"We need to show more tolerance to those who try and fail and appreciate the fact that it is extremely difficult to grow and maintain a business."

Mr Ratcliff continued: "It is also vital to strike the right balance between the needs of those whose businesses fail and their creditors, and the Government's proposals appear to achieve this."