Cost of red tape rises to £88bn

The cost of red tape to British businesses has risen to £88bn, according to data released by the British Chambers of Commerce (BCC).

The BCC's latest ‘burdens barometer' -which uses the government's own figures - highlights the cumulative cost to business of new red tape since 1998. The figure of £88bn is a jump of over £11 billion since last year.

The new Conservative-Liberal Democrat government has already promised to reduce business regulations and pledged to remove one old regulation for each new one adopted.

"The Burdens Barometer highlights a clear problem for UK business. The cost of dealing and complying with new laws and regulations over the last 12 years has been far too high," said David Frost, director general of the BCC.

"During this critical time for the economy, we need businesses to be driving recovery and creating jobs. But, the government must play its part by putting the brakes on the relentless flow of red tape."