§ 10. Mr. Harry GreenwayTo ask the Chancellor of the Duchy of Lancaster what analysis he has made of the effects of regulation and social legislation on jobs. [3303]
§ Mr. FreemanOver-burdensome regulation destroys jobs because it stifles innovation and growth, raises prices and drives companies elsewhere. Deregulation, by reducing the burden of unnecessary regulation and paperwork, is central to improving businesses' competitiveness and so helps to create new jobs. It is also a helpful feature for attracting inward investment.
§ Mr. GreenwayDoes my right hon. Friend agree that, while the ultimate aim of socialism was for all jobs to he regulated and for people to know where they stood, the result was that no one knew where they stood, nothing really happened in industry and all vitality was lost? Is not excessive regulation such as that contained in the social chapter and similar provisions destined to fail?
§ Mr. FreemanThe Conservative party is the party of deregulation; the Labour party is the party of regulation.