Audit of EU membership reveals red tape is costing British firms up to £1.5bn a year
European Union red tape and regulation are costing British businesses billions of pounds a year, according to a review due to be published this week.
The research is part of the Balance of Competences Review, which aims to examine the full extent to which the EU affects Britain.
Campaign group Business for Britain’s head Matthew Elliott said the review’s findings would make for “sober reading”.
“Despite the coalition’s best efforts at home, reducing the regulatory burden overall is hampered by having our hands tied by Brussels,” he added.
The document reports that 400 new EU laws have been passed by the European Parliament since the British coalition government came to power in 2010, costing firms more than £600m a year.
The audit is aimed at forming part of David Cameron’s campaign for a renegotiation of EU membership followed by an in/out referendum if the Conservative party is re-elected in 2015.
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