The independently compiled report, the BCC's "Burdens
Barometer", assesses the cost of 46 major regulations introduced by
the Labour Government since 1998. It does not include the cost to
business of implementing the national minimum wage.
In all, says the BCC, the regulations have created annual costs
to business of over £15 million per year.
Most expensive have been the Working Time Regulations, which
implement an EU Directive that aims to protect workers from the
health and safety consequences of overworking. The UK negotiated an
opt out, allowing it not to apply a 48-hour limit to working hours
in some circumstances, but its implementation will have cost UK
business £13.6 billion by July this year.
The Data Protection Act and regulations amending Vehicle Excise
Duty requirements have each cost British business over £5 billion
in compliance according to the BCC.
"British businesses are fed up with the spiraling costs of
regulation. Businesses must be free to compete in the global
economy. They simply cannot afford to be held back by the mounting
costs of complying with regulation," said BCC Director General
David Frost.
"While we recognize the need for proportionate regulation, the
government must ensure that new regulations are well targeted and
business friendly," he added. "Unnecessary burdens are not a
sustainable option for our firms."
According to the BCC, figures for the Barometer are taken from
the government's own Regulatory Impact Assessments. These evaluate
the risks, costs and benefits of any new regulatory proposal that
has an impact on business.
