The government has committed to being the first in history to leave office having cut the overall burden of red tape. This commitment is being implemented through:
the ‘One in one out policy’, which means any new regulation imposing costs on business is being off-set by deregulation of an equivalent amount
the ‘Red tape challenge’ which is taking a fundamental look at all regulations currently on the statute books
the moratorium on new regulations for micro-businesses and start-ups
The Treasury is committed to playing its part in this challenging but necessary agenda.
Every 6 months, each government department will publish a list of the new domestic regulations it intends to introduce, which fall in scope of the ‘One in one out policy’ – known as the statement of new regulation.
Since January 2013, the government has increased its level of ambition on reducing the regulatory burden on business and introduced a ‘One-on, two-out rule’, whereby departments are expected to offset any increase in the cost of regulation by finding deregulatory measures of at least twice the value.