Red tape is killing start-ups, says Truell

Veteran city investor Edmund Truell has issued a stinging critique of how regulation is stifling enterprise in Britain and Western Europe. Truell, who runs Pension Corporation, which charges a premium to take over UK pension scheme liabilities, said that around 60 per cent of his staff are employed "to keep the regulators happy... If you were starting a new business you wouldn't start it up in the UK or Europe, you would start somewhere sensible like the Channel Islands.”