Beecroft report: Chuka Umunna on hiring and firing

The shadow business secretary said the UK already had the most flexible Labour market in Europe and changing hiring and firing rules was a "complete and utter distraction" from getting the UK out of recession.

Chuka Umunna said a lack of skills and changes to banking were more important to most business people, and he agreed with Liberal Democrat Vince Cable that no-fault dismissal proposals were "bonkers".

Venture capitalist Adrian Beecroft was commissioned by Downing Street to come up with ideas to cut business red tape, which he delivered in October. His report was released on Monday.

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