Connect with us

Hi, what are you looking for?

Top Stories


Business leaders want regulatory stability rather than a bonfire of EU-retained law

<?xml encoding=”utf-8″ ??>

The Retained EU Law (Revocation and Reform) Bill is currently passing through Parliament and will automatically revoke most retained EU law at the end of 2023 as part of a ‘sunset clause’.

When asked in which policy area there exists the greatest opportunity for the UK government to reduce the regulatory burden of EU-retained law, 47% of Institute of Directors’ members stated that they did not want any changes, preferring instead stability in the current regulatory framework.

The April 2023 Institute of Directors member survey, which found that 82% of business leaders were aware of the Retained EU Law Bill, also found that:

19% believed that employment regulation provided the greatest opportunity
11% believed that financial services regulation provided the greatest opportunity
5% believed that environmental regulation provided the greatest opportunity
4% believed that health and safety regulation provide the greatest opportunity

Dr. Roger Barker, Director of Policy at the Institute of Directors, said: “The speed at which government intends to review retained EU law is a recipe for bad law-making. 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. It is hardly surprising, therefore, that almost half of IoD members would prefer the government to leave the existing regulatory framework unchanged.

“Our polling also demonstrates that there is a surprisingly high level of awareness amongst business leaders of the Bill. 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.

“Ideally, we would like to see this Bill dropped, and the process of regulatory reform pursued in a less politicised manner. 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.”

You May Also Like

Editor's Pick

THE BOARD of directors of Ayala-led ACEN Corp. has approved the availing of credit facilities amounting to about P7.8 billion from two financial institutions....

Editor's Pick

STOCK PHOTO Image by StockSnap from Pixabay HYDERABAD – When Saloni Singh was little, she would beg then brawl with her brother for a turn on...

Editor's Pick

HOLCIM PHILIPPINES FACEBOOK PAGE LOCAL cement manufacturer Holcim Philippines, Inc. has partnered with South Korean cement and concrete producer Sungshin Cement Co. Ltd. to...

Editor's Pick

MPIC Metro Pacific Investments Corp. (MPIC) reported on Wednesday a consolidated core net income of P4.3 billion in the first quarter, up 38% from...

Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Secrets Of Richdads. All Rights Reserved.