Red tape ties businesses in knots
May 24 2010
Businesses are getting tied up in red tape
The new coalition government is being urged to tackle the rising cost of red tape to companies.
Regulation costs to businesses rose by £11 billion to £88.3 billion last year, according to the British Chambers of Commerce, with 40 additional regulations introduced since 2009.
David Frost, director general of the BCC, says: ‘During this critical time for the economy, we need businesses to be driving recovery and creating jobs. But the government must play its part by putting the brakes on the relentless flow of red tape.
There needs to be an urgent and sweeping review of all regulations that incur costs for business, and a moratorium on new employment laws until at least 2014.’
Tim Ambler, research fellow at the London Business School, adds: ‘Much of the problem stems from Whitehall wishing to add its own unique UK regulations to the already substantial flow from the EU.’
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