Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

‘A recipe for bad lawmaking’ — company bosses slam ‘Brexit bonfire’ bill

‘A recipe for bad lawmaking’ — company bosses slam ‘Brexit bonfire’ bill

Company bosses said they would prefer to retain the remaining EU laws rather than see them scrapped
A bonfire of EU laws is likely to create more problems than it would solve, according to an Institute of Directors (IoD) survey.

A poll of 949 company bosses asked which policy area offered the greatest opportunity for the UK to “reduce the regulatory burden” of EU law.

However, most respondents who gave an answer said there was no such policy area. When excluding the 8% who said they didn’t know, 51% said their “preference is for regulatory stability in the current framework”.

This compared to just over one in five respondents who mentioned employment regulation, while one in eight cited financial services regulation. The Financial Conduct Authority announced plans to streamline many UK financial regulations last night, in order to make London listings more attractive.

Environmental regulations and health and safety regulations were both mentioned by around 5% of respondents who gave an answer.

“The speed at which government intends to review retained EU law is a recipe for bad law-making,” said Dr. Roger Barker, director of policy at the Institute of Directors. “Rules and regulations across a range of business-relevant areas could be changed or removed without the normal processes of parliamentary scrutiny or stakeholder consultation.

“This gives rise to a level of regulatory uncertainty which is extremely unhelpful for business.

The IoD poll also found that four in five IoD members were at least “somewhat” aware of the EU Retained Law Bill - which would scrap most EU laws that are still on the books in the UK - and what it covers.

“Our polling also demonstrates that there is a surprisingly high level of awareness amongst business leaders of the Bill,” Barker said. “Far from being an arcane piece of post-Brexit adjustment, our members are very aware of the uncertainty it implies. And they are concerned about what they see.

The IoD boss added that it would make much more sense to simply review existing regulations - both domestic and derived from Brussels - and scrap those that are not needed while keeping those that are.

“Ideally, we would like to see this Bill dropped, and the process of regulatory reform pursued in a less politicised manner,” he said. “No distinction should be made between reforming regulations which have been retained from the EU or which derive from domestic legislation.

“Both types of law should be assessed on their merits and with regard to overcoming the specific challenges facing business.”
Newsletter

Related Articles

0:00
0:00
Close
ICC Seeks Arrest Warrants for Israeli and Hamas Leaders
Julian Assange Faces US Extradition: Key Facts
Jacob Zuma Takes Campaign to ANC Stronghold Soweto
Attempted Assassination of Slovakia PM Robert Fico: Investigation Ongoing
Top Tory MP Raises Concerns Over Government Green Targets
Keir Starmer’s Six Key Promises Evaluated
Slovakia Faces Political and Social Turmoil
France Riles Allies by Inviting Russia to D-Day Ceremony
Poland to Spend €2.3 Billion to Reinforce Border with Russia and Belarus
Poland Supports Rolls-Royce's Nuclear Power Plant Initiative
European Ports Overflow with Unsold Electric Vehicles
Esprit Files for Bankruptcy in Europe, Putting Hundreds of Jobs at Risk
Tesla Receives Approval for German Plant Expansion
Slovakian Prime Minister Robert Fico is in life-threatening condition after being shot multiple times
Xi Jinping Highlights Europe's Divisions Ahead of Putin Visit
German Court Rules AfD Can Be Monitored for Extremism
Xi Jinping Highlights Europe's Divisions Ahead of Putin Visit
UN General Assembly Approves Palestinian Membership Bid
Teens Forming Friendships with AI Chatbots
WhatsApp Rolls Out Major Redesign
Neuralink's First Brain Implant Experiences Issue
Apple Unveils New iPad Pro with M4 Chip, Misleading AI Claims
OpenAI to Announce Google Search Competitor
Apple Apologizes for Controversial iPad Pro Ad Featuring Instrument Destruction
Boeing 737 Catches Fire in Senegal, 10 Injured
Cruise Ship Arrives in NYC with Dead 44-Foot Whale on Bow
Trump lawyer questions Stormy Daniels' account of sex with Trump
Hunter Biden's Gun Charges Upheld, Trial Set for June
Last Indian soldiers leave Maldives
Espionage Scandal in Poland: Listening Devices Found Before Government Meeting
Apple Faces Significant Sales Decline Amid AI Integration Delay
Netanyahu's Firm Stance Amid Rafah Hostage Talks
New UK Laws: Banning Weak Passwords for Internet-Connected Devices to Enhance Cybersecurity
Spanish Prime Minister May Announce Resignation
New Study: Vaping May Lower Fertility in Women Trying to Get Pregnant
U.S. DOJ Seeks Three-Year Sentence for Binance Founder Changpeng Zhao
Orban: Destroy Liberal World Order - Predicts End This Year
Diplomatic Tensions: Sunak Clashes with Macron Over Rwanda Plan
A Jewish woman was kidnapped and raped in Gennevilliers (a suburb in western Paris), France, on the background of hatred for Israel
Russia: Deputy Defense Minister Arrested on Suspicion of Taking Bribes
Stanford Researchers Discover Child Abuse Material in AI Image Generator Dataset: Can Regulations Prevent Explicit Deepfakes of Children?
Record-Breaking 'Extreme Heat Stress' Days in Europe's Contrasting 2023 Summer: A Health Threat
Thousands Evacuated: 1,000-Kg NATO Bomb Removed from Serbian City
European Car Sales Drop 5.2% in March: Electric Vehicles Face Challenges Amidst Market Downturn and High Prices
Urgent Call from William Burns as Kyiv Braces for Russian Summer Offensive.
IMF Boosts Russia's 2024 Economic Growth Forecast to 3.2%
BOEING WHISTLEBLOWER: THE MAX AIRPLANE IS NOT SAFE!!!
Creative menu of a Pizza restaurant..
The communists couldn’t ban us and neither could the Brussels bureaucrats. The second day of the NatCon Talk conference is underway.
You can be a very successful player, but a player with character is another level!
×