Tories pledge to lift regulatory “millstone”
Michael Howard last night promised that a future Conservative government would slash business red tape.
In a speech from Tony Blair’s constituency of Sedgefield, Mr Howard claimed that Labour has imposed 15 new regulations a day since coming to power, at a cost of £30 billion to business.
Mr Howard said that under Labour, “the job of running a business in Britain is getting tougher – much, much tougher.”
A Conservative government, he said, would reduce regulation, curb public spending and cut waste.
Telling his audience that he would welcome reports of any pointless red tape they encounter, Mr Howard said: “The burden of regulation on business is, in my view, approaching crisis point.”
The Opposition Leader pledged: “We will ensure that the total regulatory burden imposed by government falls each year. We will introduce sunset clauses in new regulation. And like America, we will exempt small firms from a whole raft of regulation.”
Without promising any business tax cuts, Mr Howard reiterated his belief that “low tax economies are the most successful economies.”
“A Conservative government will ensure that, over the medium term, while public spending will continue to grow, it will grow less quickly than the economy as a whole.”
Mr Howard also used the opportunity to attack the proposed European Constitution, claiming that it would lead to further burdens on business.
He said that 40 per cent of new regulations originate in Brussels, including “the single most expensive regulation for British business”, the Working Time Directive.
“According to some calculations, it has cost business more than £10 billion – so far”, Mr Howard warned.
“If the Constitution is passed, it will mean business as usual for Europe – greater centralisation, more regulation and less flexibility. It is the exact opposite of what Europe really needs. Far from solving problems it will create yet more.”
