http://www.i- l-m.com/members/ 2363.aspx? articleid= 19191281& articleheading= Cost+of+EU+ regulation+ tops+%C2% 801+trillion

28 May 2009

Business regulations passed by the European Union have cost firms a
total of €1 trillion since 1998, a new study has revealed.

Cost of EU regulation tops €1 trillion

Categories: Enterprise

Red tape generated by the European Union (EU) has cost businesses
across the continent a total of €1 trillion in the last 11 years,
according to new research.

The study, conducted by the representative body for Chambers of
Commerce in Europe, Eurochambres, also estimated that the annual cost
of all EU regulations equates to around 12 per cent of the union's
gross domestic product.

According to Professor Francis Chittenden, one of the authors of the
report, EU regulations are largely driven by political motives, with
little assessment of the impact they will have on businesses and the
economy.

David Frost, director-general of the British Chambers of Commerce
(BCC), called for the "massive burden of regulation on business" to be
reduced.

"Cutting unnecessary burdens and announcing a moratorium on new
employment law would be an effective way of providing instant and
inexpensive help to British firms," he said.

Recently, a separate study by the BCC found that business regulation
has cost UK firms a total of £76.81 billion since 1998.