The British Camber of Commerce – BCC reports a £10bn rise in the cost of red-tape to £66bn in the last 12 month.
In a time when our economy is in a slow down cycle, this figure is staggering. The government policies are fiscal policies are failing on a grand scale while it is spending tax-payers money through red-tape at an unbelievable rate.
Not only the cost of red-tape will be of worry to most small business, but the inherent loss of competitiveness is not to be underestimated. The biggest burden is the working-time regulation with alone £1.8bn in a year – a total of £16bn since it’s introduction.
The governments claim of an overall reduction in the cost of red-tape have been exposed as wishful thinking, once again.
Francis Chittenden of the Manchester Business School who has co-authored the report with Tim Ambler from the London Business School has the hope, that the civil servants who actually reduced their cost of red-tape a little, would be promoted, in order to achieve better results in future years. But even he admits it may be too little too late.
This, in my opinion, should be the Labour Parties new slogan: Labour – Too little, Too late. ST.