§ 26. Mr. BradyTo ask the Secretary of State for Trade and Industry what assessment he has made of the net change in(a) regulatory costs and (b) tax costs to business since 1 May 1997. [77061]
§ Dr. HowellsAny assessment of the net change in regulatory costs is, on its own, misleading because it ignores the benefits of regulation which are much more difficult to quantify. What matters is that we minimise354W costs and maximise benefits when obliged to regulate. Our regulatory impact assessment procedures are designed to achieve this.
Details of the impact of particular tax measures introduced since 1 May 1997 are set out in the relevant edition of the Financial Statement and Budget Report.
§ Mr. RedwoodTo ask the Secretary of State for Trade and Industry if he will reassess the annual cost to business of full implementation of the(a) minimum wage and (b) working time regulations following recent business experience. [77885]
§ Mr. Byers[holding answer 19 March 1999]: I will always be prepared to reassess our estimate of costs in the light of experience.