Business: Regulation
The question
To ask the Secretary of State for Business and Trade, whether his Department has made an assessment of the potential merits of introducing a one-in, two-out approach to new business regulations; and if he will make an assessment of the potential impact of that approach on (a) innovation and (b) growth.
Answered by Justin Madders
On 17 March 2025 the government published an Action Plan setting out its approach to regulation and regulators, which made a firm commitment to cut the administrative costs of regulation for business by 25% by the end of the Parliament. This commitment will require deregulation of the existing stock of regulations and control the flow of new regulations to reduce costs.
The Department for Business & Trade, in collaboration with HM Treasury and departments across government, is working to establish the mechanisms needed to achieve this commitment and report on progress. The government will make a further announcement in due course.
Verbatim has judged this answer against the question that was actually asked — answered, partly answered, or evaded. Sign in to see the verdict →