Employers welcome chancellor's decision to revisit OFR regulations

Employers' groups have welcomed Gordon Brown's decision to reopen discussions on Operating and Financial Reviews (OFRs), just nine weeks after he promised to scrap the company reporting regulations.

The OFRs, under which listed companies were required to produce a forward-looking annual statement on aspects of the business including employee concerns, were scrapped by the chancellor in November in a bid to highlight the government's commitment to cutting red tape.