Business secretary Vince Cable has announced plans to hand over more power to businesses in a bid to cut unnecessary red tape and bureaucracy.
The package aims to help transform the relationship between business and government by changing how regulations are drawn up, introduced and implemented.
From 1 September a ‘One in, One out’ system will be introduced, meaning that when ministers seek to introduce new regulations to impose costs on business or the third sector, they must first identify current regulations with an equivalent value that can be removed.
Commenting on the plans, Cable said: “Together these measures represent a fundamental shift in how Whitehall has traditionally used regulation as a way to command and control.
“By ensuring regulation becomes a last resort, we will create an environment that frees business from the burden of red tape, helping to create the right conditions for recovery and growth in the UK economy.”
The Government also unveiled plans to tackle the EU regulations by engaging in the Brussels policy process, in order to avoid putting British businesses at a disadvantage to European competitors.