The cost to UK businesses of regulation has increased by £10bn over the past year, according to research by the British Chambers of Commerce (BCC).

The BCC's Burdens Barometer shows that the cumulative cost to business of new regulation since 1998 has risen to £76bn - a jump of over £10bn from last year.

In the last year alone companies have been hit by 19 new regulations that have cost over £1.7bn.

"Businesses are facing the toughest economic environment for a generation. The government needs to get serious about reducing the massive burden of regulation," said director general of the BCC, David Frost.