Over-regulation is costing UK businesses more than £80billion a year, according to the Institute of Directors.
This equates to 5.7% of UK GDP.
The IoD is urging all political parties to give businesses the freedom to operate.
Instead of building up their businesses and creating new jobs, the IoD has found that directors are spending more than a month each year handling Government red tape.
It wants a culture change in Government. The IoD said the UK needed a wholesale review of Civil Service incentives, job evaluation and career progression by whichever party won the election. Success in most of the Civil Service is still defined by getting as many regulations onto the statute book as possible, regardless of the cost.
IoD Director General Miles Templeman said: "£80billion is effectively being taken out of the UK economy each year due to regulatory paperwork. When the regulatory burden is so large that it typically occupies one employee in every private enterprise in the UK for nearly half a year, it’s obvious we have a problem.
"This isn’t a debate about diluting protections, because form filling doesn’t protect anyone. This is about getting a culture change in Whitehall. Officials are incentivised to produce legislation. Unless the next Government changes the way civil servants are evaluated and rewarded, businesses will continue to face a large and ever-increasing burden of paperwork that hinders them from growing and, ultimately, creating jobs."
This article was produced by Recruitment Today and can be found, here
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