I'm not familiar with its content but I can't help feeling that its paternity provision is a bit too lavish, given the state of the economy. The paternity aspect was the part that I to my recollection, got the most headlines but I can't quite recall all the details.
From the point of view of LGBTs how does the Act strengthen their rights? If I recall, the Act makes it illegal to discriminate on age basis and to force retirement.
Aside from what I see as over generous paternity provision, the rest of the Act seems to shore up existing legislation in a sensible manner.
As for 'cutting red tape', over the years, that's turned out to be Tory double speak for removing worker rights and strengthening employers' rights to hire and fire at will.