IEA: Focus should be on abolishing regulation
Mark Littlewood, director general of the Institute of Economic Affairs, comments on David Cameron’s speech to the CBI today:
“The Prime Minister’s plans for stimulating economic growth still seem to rely heavily on what the government can do – rather than on what it should stop doing.
“If the coalition is serious about improving the prospects of the private sector, they need to produce a lengthy and specific list of burdensome rules and regulations which they will abolish. This can’t come soon enough.
“Businesses need to be given more freedom over hiring and firing, employees’ rights should increasingly be determined in contractual negotiation rather than by employment law and there needs to be a radical simplification of the bureaucratic rules with which British companies need to comply.
“These barriers to growth should be the government’s focus.”
