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23 November 2012

One-in, two out to further cut red tape (UK)

The costs of red tape on business will be slashed at double the present rate, according to a new measure announced two days ago by the UK government.
From January 2013, every new regulation that imposes a new financial burden on firms must be offset by reductions in red tape that will save double those costs.
The new 'One-in, Two-out' rule will be imposed across all ministries, and will apply to all domestic regulation affecting businesses and voluntary organisations.
It will replace 'One-in, One-out', which requires the costs of every new regulation to be matched by savings of an equivalent amount. According to BIS, this policy "has already reduced net costs on business by almost £1bn since January 2011 helping to make government leaner, fitter and more focused on what businesses need, enabling them to get ahead and compete in the global economy."


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