It’s official, regulation is good for business
The Better Regulation Executive have published a new report, which lists the multiple benefits that regulation has for the UK economy. In a refreshing change from the usual anti-regulation rhetoric of the UK business lobby, this report concludes that:
Regulation has an important role to play in Britain’s economic growth and prosperity. It protects our environment and the health and opportunities of our citizens. Well designed and implemented regulation helps support innovation and has other beneficial outcomes….For example, competitive markets create benefits like extra trade and reduced prices. Regulation means cleaner air and water, safer workplaces and food as well as the safety net created by the minimum wage.
What a shame the Government hasn’t been able to apply these principles to recent policy on employment rights.