Regulation dates save ‘hundreds of millions’ 

Limiting the introduction of new regulations to just two common commencement dates a year saves UK business over £600 million annually, the government has argued.

New business rules and laws come into effect on 6 April and 1 October.

By allowing firms to plan ahead, the savings in time and money amount to £628 million a year, the government estimates.

Business and Competitiveness Minister, Shriti Vadera said: “We have been working across government to ensure that these important laws come into force at the same time. Introducing business regulations on only two dates per year helps companies to plan ahead, save money and encourages greater compliance.”

However, the Federation of Small Businesses (FSB) has said that the government is ignoring its own rules on the way that regulations are introduced, accusing it of implementing new regulations throughout the year.

These, the FSB said, include the London Low Emission Zone (4 February), a change to provision of free child places in private nurseries (1 April) and changes to rules on employing foreign workers in the Immigration, Asylum and Nationality Act (29 February).

Date: 8 April 2008

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