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.”
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
Historic Papal Conclave Set to Commence in Rome
“Trump Supporter” Aims to Bring a MAGA-Style Shift to Romania
Common Sense Returns to Britain's Legal System: UK Supreme Court Declares a Woman Is… a Woman
EU Hits TikTok with €530 Million Fine Over China Data Transfers
Beijing Says U.S. Is ‘Reaching Out’ for Tariff Talks Amid Soaring Trade Tensions
Warren Buffett to Step Down as Berkshire CEO After Nearly 60 Years
Trump Shares AI-Generated Image of Himself as… Pope, Prompting Outrage Reaction
Germany's Alternative für Deutschland (AfD) party has now been officially labeled “right-wing extremist” by the federal office for the so-called “protection of the constitution.”
Amazon Launches Satellite Internet Service Amidst Competition with SpaceX
Transformative Changes in Women's Wrestling: The Rise of WWE Superstars
The Rush to the White Gold: Global Investment Surge in Natural Hydrogen Exploration
This is a day in Spain without electricity and internet
Trump Administration Removes National Security Adviser Mike Waltz Amid Signal Chat Controversy
U.S. Economy Shrink in Trump’s First Quarter as Tariff Policy Raises Questions
U.S. and Ukraine Poised to Sign Strategic Critical Minerals Deal Amid Geopolitical Shifts
Spain Restores Power After Unprecedented Nationwide Blackout
Liverpool Clinches Record-Equalling 20th English League Title Under Arne Slot
How do you fix this culture?
Corrupted from Within: How Deep State Power and Unelected Judges Hijacked Democracy Against the Will of the People
President Trump and Ukrainian President Zelensky just held an impromptu discussion on the sidelines of Pope Francis' funeral in Rome.
World Leaders Gather in Rome for Pope Francis's Funeral
Pope Francis Laid to Rest in Rome as World Leaders Attend Funeral
Not Child’s Play: How Competitive Gaming Became a Global Economic Empire
California Surpasses Japan to Become the World’s Fourth-Largest Economy
Peter Navarro: The Man Behind Trump’s Tariff Madness
Former U.S. Congressman George Santos sentenced to eighty-seven months for wide-ranging fraud
Pope Francis: head of the Catholic church who pushed for social and economic justice
China do not pay these tariffs - you pay it. This is new 145% tax you pay to the US government.
Cultural Battles in the Vatican: The Candidates in the Battle for the Holy See and Pope Francis's Testament
Global Leaders Pay Tribute to Pope Francis Following His Death
Wild Chimpanzees Observed Bonding Over Alcoholic Fruit
Greek Christians Celebrate Easter in Thessaloníki
US Federal Reserve Chair Issues Warning on Tariff Impact
China, China, China!
Pope Francis Makes Brief Appearance at Easter Sunday Mass
Saudi Arabia Offers Max Verstappen Unprecedented Deal to Join Aston Martin
Global Pistachio Shortage Amid Rising Demand for 'Dubai Chocolate'
Trump is assembling a coalition of Western leaders aligned with the MAGA vision, strengthening a unified front for global change
IMF Predicts No Global Recession Amid Trade Tensions
Alphabet Faces Antitrust Setbacks as Federal Judges Rule Against Google
US Billionaires Call for Higher Taxes, but Proposed 'Millionaires Tax' May Not Achieve Desired Outcome
This is Vienna, Austria in 2025.
Designed in US, made in China: Why Apple is stuck in tariff tussle
Boeing Jet Returns to US from China Amid Tariff War
US Sets Deadline for Russia-Ukraine Peace Deal Brokerage
Italy Introduces 'Sex Rooms' in Prisons for Inmates
Italian Prime Minister Giorgia Meloni Meets with Donald Trump to Discuss EU-US Trade Tensions
South East Asia Caught in US-China Trade Dispute
Ukraine and US Sign Outline of Minerals Deal
U.S. and Panama Finalize Defense Agreements Amid Canal Access and Chinese Influence Concerns
×