22-08-2007
British firms bogged down by regulation
Increasing levels of business regulation are putting British firms at a disadvantage, it has been claimed.
According to comments made by a representative from the British Chambers of Commerce (BCC), increasing levels of regulation are economically disadvantaging UK businesses when compared with their foreign counterparts.
"What we want is new regulations that are fair and proportionate and that minimise the costs to businesses, which are already significant," said the representative.
"Nobody wants reasonable protections to be compromised," he added.
The BCC believes that UK businesses are placed at a disadvantage because of the costs generated by additional labour and administration.
Indeed, a report by the Institute of Directors found that out of the total number of respondents, 42 per cent were of the opinion that their business was being hindered by regulation.
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