FORMER Tory leader William Hague has told business leaders in York of his vision for Britain’s economic recovery.

The Shadow Foreign Secretary was the guest speaker at the annual dinner of the York and North Yorkshire Chamber of Commerce at the National Railway Museum, attended by more than 600 guests.

He said that much more had to be done to cut the burden of red tape on businesses and encourage enterprise.

But he warned that the next government would have to tackle the burden of debt incurred during the recession.

He said: “It is possible to control the debt and it is vital to control public spending. We really have to declare this country open for business again and we need to set out our ambitions.

“We need to simplify the tax system [for businesses], reduce the burden of red tape and reduce the number of forms needed to register a business.

“We want to make Britain the fastest place in the world in which to start a new business.”

He said that if the Conservatives won the next election, ministers’ salaries would be cut and frozen for five years and the number of MPs reduced by ten per cent.

Earlier Shaun Watts, president of the Chamber, spoke of York’s growing reputation in the business world.

He told the gathering: “We need to promote the city as a leading business destination.”