Off the Gold Standard


Off the Gold Standard

In a move that is designed to keep UK plc competitive, the Government announced just before Christmas that it will no longer 'gold plate' legislation passed by Europe. In other words, any UK law that is to implement a European law will be a direct 'copy out'; it won't add anything to, or embellish, whatever Europe has decreed.

Further, ministers will be given an express duty to review legislation passed by Europe every five years so that 'it poses as small a burden as possible on business'. Reviews would involve consultations with business.

So is it all good news? Well yes and no. It's great to see that European law won't be added to, but equally, the new rules won't stop Brussels affecting the way we conduct business.

This was first published in January 2011

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