Red Tape Costs

We all claim to hate it, but it digs it way deeper into our lives every day. The government promised in 1998 to weigh the costs of all new business regulations before implementation.

The Regulatory Impact Assessment (RIA) assesses the costs, benefits and risks of proposed new laws, and should involve consultation with those likely to be affected as well as suggesting alternative ways of dealing with the issue without legislation.

So seven years later, what is the result?

But the BCC survey found just 0.5% of EU regulations - or one in 200 - in 2003/04 was subjected to the RIA process before being implemented in the UK.

So as expected Mr Blair’s government is all talk and no trousers.