The UK's rising tide of regulation

Last month was certainly Black October for those swamped by red tape. On 1 October employers, landlords, advertisers and innovators were hit by more than 50 new business regulations. But what is the cost of this tide of new regulations?

In 1997 competition, exchange rates, skill shortages, interest rates and controlling costs were all considered more pressing concerns for captains of industry than government legislation. Now it's a major gripe.

Last month was certainly Black October for those swamped by red tape. On 1 October employers, landlords, advertisers and innovators were hit by more than 50 new business regulations. There is a rise in the minimum wage from £5.05p an hour to £5.35p, an extension of paid maternity leave from six to nine months and age discrimination laws. There are new rules on fire safety that scrap fire certificates and instead companies will need to appoint a responsible person to ensure compliance. If a building and its fire strategy conformed to the previous standard, it may no longer be a defence in a civil court against a claim of negligence. Time and again the onus on compliance and responsibility shifts onto businesses instead of government agencies.

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Brian has contributed to MoneyWeek with his expertise in investment strategy, for example how to quadruple your dividend income and how to navigate through the stock market in the 2008 financial crisis. He’s also touched on personal finance such as the housing market and the UK economy.