Regulation costs 10% of GDP
First numbers from regulation probe reveal cost of red tape to UK plc
Regulation of UK companies may cost the UK between 10% and 12% of GDP, a
report into the subject is expected to conclude.
Talking to the Financial Times, Sir David Arculus, the chair of the
government’s Better Regulation Task Force, said he expected the review would
find that regulation cost the UK about £150bn.
The government has committed itself to cutting red tape, and is measuring the
cost of regulation to head off charges that it has introduced mountains of
bureacracy since coming to power.