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<p>Since this Government came into office we have reduced the stock of existing regulation
through the Red Tape Challenge programme and controlled the flow of regulation through
the One-in, One-out and One-in, Two-out rules. Any Department wishing to introduce
new regulations which impose a cost on business can only do so if they make a reduction
in cost through the removal of regulations with equivalent costs from elsewhere. From
January 2013 the Government increased its deregulatory ambition by introducing the
One-In, Two-Out rule, under which Departments must find two pounds of saving for every
pound of extra cost imposed.</p><p> </p><p> </p><p> </p><p>The achievements of these
two programmes will be set out in the Ninth Statement of New Regulation, to be published
in December 2014. At the time of publishing the Eighth Statement in July 2014, there
had been 72 regulatory ‘INs’ and 152 deregulatory ‘OUTs’ since January 2011, as well
as 126 measures with zero net cost to business. As a result, this Government has so
far reduced the annual cost to business of domestic regulation by over £1.5 billion
since January 2011.</p><p> </p>
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