In fact, in 2005 the United Kingdom (UK) government adopted targets for reducing regulatory burdens, later evolving into a “One-in, One-out” plan. The effort to reduce regulatory burden in the UK has been largely successful. Since 2005 when the government committed to reducing the burden of regulation, UK businesses have benefited from £6.5 billion in annualized savings. What if a new regulation costs business $1 billion, while the two eliminated regulations carry a burden of only $1 million each? Reducing regulatory costs doesn’t require gutting critical protections.

Source: Forbes January 27, 2017 20:28 UTC