CBA welcomes Arculus Review of Regulation

The Chemical Business Association (CBA) has welcomed the findings of the Arculus Review of Regulation.

'The Arculus Report contains many sensible and pragmatic ideas, such as strict regulatory budgets for government departments; prior consultation with business on the issue, not the legislative detail; a Brussels-based UK minister to monitor and challenge European legislation; and sunset clauses for regulations that no longer perform a useful function,' said CBA director, Peter Newport.

'The annual cost of regulation to the UK economy now amounts to 10-12 per cent of GDP - a total of more than GBP100bn, the same amount as the income tax burden.

'The chemical sector is a global industry and has to remain internationally competitive while the cost of regulatory compliance is increasing year-on-year.

'CBA favours effective regulations, but measures are needed to prevent layer-upon-layer of regulation crippling enterprise - particularly in relation to smaller companies with limited resources,' he added.

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