Thursday October 9, 2008 at 6:00pm
Government plans to cut the cost of red tape must be welcomed by business owners, surely?
The proposals are that budgetary ceilings are set on the amount of regulation that can be introduced by individual departments.
Under the plans, a rolling budgetary limit will curtail the costs of new regulation from next April (2009). Government departments will be allowed to offset the cost of any new rules with savings made by reducing the existing regulatory burden and by trading with other departments. That’ll be interesting to see; I can just imagine the bargaining between the Department of Work and Pensions and the Department for the Environment now.
With clients I advise concerning regulatory matters, there seems to be more and more legislation and red tape, what with EU rules, industry-specific regulations and so on. Getting to grips with all of this can be a nightmare – so let’s hope the Government’s plans for simplification really do come to fruition.
Gary Cousins, Business Lawyer
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