§ Lord Tebbitasked Her Majesty's Government:
Whether business regulations has grown since they took office in 1997; and, if so by what factor; and [HL1958]
What are the extra costs on business since 1997 by way of (a) taxation; and (b) regulation. [HL1959]
§ Lord Sainsbury of TurvilleThe percentage of total tax charge set against total chargeable profits has fallen from 32 per cent in 1996–97 to 28.4 per cent in 2001–02 (the last available figures). The rates of tax have also fallen from 33 per cent (main rate) and 24 per cent (small companies rate) in 1996–97 to 30 per cent (main rate) and 20 per cent (small companies rate) in 2001–02.
The cost to business by way of regulation since 1997 has not been calculated. However government policy on regulation is clear; we regulate only when it is both necessary and desirable, for example, to ensure fairness at work, better health and safety or a cleaner environment.