Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-06-06-Speech-1-216-000"
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"en.20110606.22.1-216-000"2
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"Mr President, yes I agree, it is very important that we have independent economic impact assessments of EU regulations. These place a very significant cost on business, on the economy and, of course, on the pockets of ordinary citizens.
Now I recently published the latest addition of my periodic study, ‘How Much Does the European Union Cost Britain?’, which is available on my website. Just one element of these costs is, of course, EU over-regulation. Now, using the government’s own figures – the UK Government’s own figures – the Open Europe think-tank calculates the cost of just the top 99 directives currently in force at over GBP 20 billion per annum.
In 2006, Commissioner Günter Verheugen put the cost of EU regulation at an average of 3.5% of GDP; 3.5% of the UK’s GDP is almost GBP 49 billion per annum. This is a staggering burden on business and on consumers. Independent impact assessment should, of course, be carried out at the national level but, outside of the European Union, Britain would be free to decide its own level of regulation and it would certainly not be GBP 49 billion per annum."@en1
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