St. Vince - aka Vince Cable - erstwhile Business Secretary for The Coalition has today announced a 'One In - One Out' policy for any new regulations that impose a cost on business. The BBC reports that:
"From September, ministers will have to identify an existing piece of regulation to be removed for every new rule proposed."
There is a difference of opinion between the BBC and Open Europe, the former stating that the British Chambers of Commerce maintain a third of the additional regulatory burden came from European Union directives, while the latter stating that in 2009, 59 percent of the annual cost arising from regulation introduced since 1998, £32.8 billion, stemmed from EU legislation.
On the basis that existing EU Directives & Regulations cannot be repealed by The Coalition and that there is no 'parity' of business costs mentioned it adds up to a typical 'Coalition Policy' - a load of words which don't mean much - in other words a public relations stunt, just a nice 'headline grabbing' policy announcement designed to 'pull the wool over the eyes' of the electorate!
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