Liberal Democrats in Business

News and views from the Lib Dem Treasury, Trade and Industry Teams and Business Forum

Lib Dem Brian Cotter MP Comments on NAO Report Into Business Regulations

12.00.00am GMT Thu 4th Mar 2004

Ministers must improve the way they assess the impact of new regulations, according to the National Audit Office. Responding to the report, Brian Cotter MP, Liberal Democrat Small Business Spokesman, said: "More attention must be paid to the cumulative impact that individual regulations have on business."

"The burden of employment regulation costs a large firm around £5 a year per employee, but for small businesses, the financial impact is £288 per employee."

"Whilst some regulation is necessary to protect consumers and employees, departments must move away from the gut reaction to legislate, which is increasingly stifling innovation and competition."

"The Liberal Democrats believe that impact assessments should be carried out independently of the department sponsoring the legislation, to allow tougher appraisals of whether each regulation is truly necessary."

ENDS

Notes to Editors

  • The National Audit Office has just published its "Evaluation of Regulatory Impact Assessments Compendium Report 2003-04"

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