Commenting on the Report for the Conservative Party on Regulatory Budgets, EEF Chief Economist Stephen Radley said:
"Improving the quality of regulation and reducing the burden on businesses is more vital than ever during a recession. There are a number of good ideas in the report, but efforts should be focused on those which could make a real difference. One of the best ideas is to introduce budgets for new regulation. It would provide a robust framework to control the flow of regulation, incentivise cost-effective regulations and hold responsible departments to account. The Government consulted on the idea last year, but has since shied away from implementing it."