Labour's Shadow Business Secretary, Chuka Umunna MP, commenting ahead of an expected government announcement on regulation, said:
“The Tory-led government has over-promised and under delivered on cutting regulation. Clearly, we want to reduce the regulatory burden on businesses wherever possible, but Ministers' One In One Out framework is nothing more than a gimmick.
“The One In One Out framework and moratorium for micro businesses do not include regulation originating from Europe, which accounts for up to half of all regulation on firms. Ministers’ have compromised their ability to reduce the regulatory burden coming from Europe which impact on business, like new EU rules currently in the pipeline that could hit infrastructure investment.
"There are concerns that Departments could massage the figures to get around the One in One out framework – attributing a higher cost to regulation disposed of, and a lower cost to new rules.
"The best way this Tory led Government can help businesses right now is to change course and dump their failed economic plan - a plan which has pushed this country into a double dip recession."