EU red tape cost £1.3bn last year

NEW REGULATION stemming from the EU added £1.3bn in annual costs to business and civil society in the UK during 2013, while European reductions in regulation cut annual cost by only £2.5m.

According to the annual report of the Regulatory Policy Committee (RPC), deregulation savings enacted nationally in 2013 amounted to £274m per year, against new regulation costs of only £128m per year. The national savings are dwarfed by costs from EU directives.