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25 November 2011

UK peer criticises deregulation

A balanced view about the costs and benefits of regulation, and a comparison with Germany, was given by Lord Heseltine, a heavyweight Conservative politican, last night in a speech at the Whitehall and Industry group, according to a post today on a FT blog under the title "Lord Heseltine challenges Tory orthodoxy on red tape." "Regulations provide benefits and opportunities for business as well as adding to costs and workload," he said citing the example of crash helmets. What was needed was to concentrate on the red tape, not wholesale deregulation.

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