CBI responds to Government's announcement on streamlining business regulation

John Foster, CBI Chief Policy & Campaigns Officer, said:

“There is a fierce urgency in the need to get the UK economy growing at a sustainable rate so it can make a meaningful difference to our nation’s prosperity. For businesses to fully contribute to this mission they need room to invest, not be constantly battling costly regulation that adds little or no value.

“Firms know that smart regulation is a competitive asset, both within our domestic market and in attracting investment to the country. Businesses don’t want to erode the UK’s reputation for predictability and institutional strength, instead they simply want flexibility from overly rigid frameworks that stifle innovation and progress.

“The Government deserves credit for recognising this challenge and taking action to address it. We now need business and government to work together, at pace, to deliver a growth-enabling regulatory system that sensibly balances appetite to risk, while giving businesses confidence to invest and thrive.”