John Hutton's announcement that the Government is planning to cut down on red tape can only be a good thing for the beleaguered private sector.
In tough times of crunching credit and a looming recession, business leaders have seen it, not surprisingly, as aray of hope from aGovernment that has at times displayed a giddy addiction to new legislation.
Despite accusations of being the most right-wing rulers since Mrs Thatcher, New Labour's generosity towards the private sector has extended more towards large public contracts for corporate buddies than the actual red-tape-cutting help most businesses need.
In April, Midland super-entrepreneur Bob Edmiston said he would not have been able to earn his hundreds of millions in today's hyper-controlling climate.
And red tape is a constant worry, particularly for new start-ups and small businesses - both the most vulnerable and the most important part of the private sector. When you're running a small business, you don't have an HR team or legal advisers to take care of everything for you.
The 'one size fits all' approach to business places a disproportionately heavy load on small businesses. The Institute of Chartered Accountants for England and Wales estimates new legislation costs small businesses £10.2billion a year. So this apparent change of face is to be welcomed. But what will be even more welcome will be actions, instead of words.
Worryingly the Government's plans to cut red tape seem to involve consultation - no doubt at great length and probably greater expense - with both businesses and workers. We've had the announcement. The worst thing that could happen now would be for it to be buried in committees, focus groups and questionnaires.
Rolling back the state has become a catchphrase. Let's hope we see it in action some time soon.