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<p>This Government has saved businesses £2.2bn per annum by cutting regulation through
One-in, One-out (later One-in, Two-out) and the Red Tape Challenge. These savings
are set out in the Ninth Statement of New Regulation, and have been independently
validated by the Regulatory Policy Committee. The Statement can be found at: <a href="https://www.gov.uk/government/publications/one-in-two-out-ninth-statement-of-new-regulations"
target="_blank">https://www.gov.uk/government/publications/one-in-two-out-ninth-statement-of-new-regulations</a></p><p>
</p><p> </p><p> </p><p>The ‘One-in, One-out’ rule introduced by this Government was
introduce to stem the flow of disproportionate regulation by requiring departments
to find £1 of regulatory saving to business for every £1 of new regulatory cost. In
2013, we increased our ambition even further by doubling the rule to ‘One-in, Two-out’.
Through the Red Tape Challenge, we have tackled the stock of unnecessary, over-complicated
and burdensome regulation. Our starting point has been that regulation should go unless
there is good justification for the Government to be involved.</p><p> </p><p> </p><p>
</p><p>This combined approach to challenging the stock and flow of regulation has
made a difference to business experience of red tape in the UK. This is illustrated
in the World Economic Forum’s recent ranking of the UK as having the lowest perceived
burden of regulation in the G7, a substantial improvement from 2010, when the UK had
the third highest perceived burden of regulation in the G7.</p><p> </p>
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