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Business update: Regulation and rate changes October 13
The Government’s commitment to reducing the regulatory burden on businesses is being enforced with three key ideas:
Departments and ministers have to justify any increases in the cost of regulation by finding savings of at least equal value.
An extension of One-in-One-Out, where measures that increase the cost of regulation have to be offset by deregulatory measures that are at least twice as valuable.
3. The Red Tape Challenge
Launched in April 2011, the Red Tape Challenge gives businesses and the public the chance to have their say on some 6,500 regulations, with the aim of improving or scrapping unnecessary red tape.
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