Business Secretary Vince Cable has announced a raft of measures to tackle excessive regulation stifling that the government says is stifling business growth.


The meaures include:

• Creating a new Reducing Regulation Committee will be chaired by the Business Secretary to enforce “a new approach to new laws and regulations, ensuring that their costs are properly addressed across the entire British economy”.
• An immediate review of all regulation in the pipeline for implementation that has been inherited from the previous government. The cost of implementing this amounts to £5bn annually before April 2011 and £19.1bn per annum thereafter.
• Establishing a new “challenge group” to “develop innovative approaches to achieving social and environmental goals in a non-regulatory way”.  
• A “one-in, one-out” approach control to reduce the burden of regulation, designed to change the culture of government, would make sure that new regulatory burdens on business are only brought in when reductions can be made to existing regulation.
   

Business Secretary Vince Cable says: “The deluge of new regulations has been choking off enterprise for too long. We must move away from the view that the only way to solve problems is to regulate.

“The government has wide-ranging social and ecological goals including protecting consumers and protecting the environment. This requires increased social responsibility on the part of businesses and individuals.”