£4.17 Million Of Red Tape Costs To Businesses Cut
A new report published today by the Government shows that around £4 million of regulatory burdens will be cut from British businesses between January and June 2012.
The Third Statement of New Regulation, which measures the success of the One-in, One-out rule, shows that there is a cumulative net reduction of regulation since January 2011. It also shows that the number of regulations which reduce a cost on business continue to outweigh the number which put a new cost on business.
Business and Enterprise Minister Mark Prisk said:
"The One-in, One-out process is one of the best tools we have to cut the costs and burden of regulation on our businesses. The system is starting to deliver results, capping the costs to business and then driving them down. But we know that changing the culture of regulation in Whitehall is a long-term job, and all of us in Government have to, and will, continue to root out any red tape which poses more of a hindrance than a help to UK businesses."
The new statement also shows that Departments have started to remove legislation as a result of the Red Tape Challenge and deregulatory measures designed to reduce the burden on business are in the pipeline for later this year.
Lord Curry, Non Executive Chair of the Better Regulation Executive, said:
"Economic growth is crucial and all Departments should be aware that everything they do impacts on the growth agenda. The business community is looking for evidence and Departments need to recognise that any regulation they introduce will affect business in some way.
"In the Better Regulation Executive we are really pleased to see that culture change across Whitehall is beginning to bite. It's more evidence that the One in, One out rule really works. We need to continue to see more of the same."
The latest statement of new regulation has been published four weeks ahead of the April Common Commencement Date (6 April) to give businesses more certainty about regulations that are coming in on that date. The Fourth Statement is planned to be published up to eight weeks ahead of the October Common Commencement Date and the Fifth Statement up to twelve weeks ahead, to provide clarity for businesses and help them plan for the future.