(14 years, 6 months ago)
Commons Chamber7. What his most recent estimate is of the financial effect on businesses of the present level of regulation.
While no official estimate currently exists, British Chambers of Commerce calculates that, since 1998, the additional regulatory costs introduced by the previous Labour Government have equated to approximately £11 billion every year.
As chairman of the all-party group on small shops, I receive many representations from shops in Southend West and across the country on the burden of such regulations. In these still unfavourable trading conditions, will my hon. Friend look carefully at those representations and, as a Minister open to new ideas, meet a small deputation from the all-party group?
I am very pleased to accede to that request. My hon. Friend is an excellent advocate of that vital part of our economy. It is crucial that we are open to fresh ideas, so I look forward to hearing those representations, and if he will contact my office, we can arrange that as soon as possible.