Government to Halt the Relentless Flow of Red Tape

British-Chambers-of-CommerceThe cost of business for red tape had been £88.3bn last year, which has urged the coalition Government to halt its "relentless flow". The 40 new European regulations adopted by UK were followed by a burden growth to £11bn in 2009. This study has come from the British Chambers of Commerce.

Some of the business regulations have been now promised to reduce, by the Conservative-Liberal Democrat Government, and thus pledging to eliminate one previous regulation for every new one implemented.

In addition to this, the Government has also ensured that it wouldn’t “gold plate” or add any new European rules in replacement of this.

It has been found that one third of this accounted regulatory burden came from the European Union directives last year. It is due to the fact that the cost of dealing and complying with the new laws and regulations over the last 12 years had been really high. Instead, there was a dire need for recovery in the business and for creating jobs.

All these circumstances have forced the Government to now put brakes on the relentless flow of the red tape. So today, the time and opportunity is seen perfect for the Government to begin repealing regulations.