Cut the EU red tape choking Britain after Brexit to set the country free from the shackles of Brussels
Britain must sweep aside thousands of needless EU regulations after Brexit to free the country from the shackles of Brussels, a coalition of senior MPs and business leaders have demanded.
On Wednesday, Theresa May will start the formal process of leaving the EU when she invokes Article 50, giving her a “once in a lifetime opportunity” to rejuvenate the UK economy.
Today, the Telegraph calls on the Conservative Party to promise a bonfire of EU red tape in its 2020 manifesto to put Britain on a radically different course.
The proposal has the backing of the former Conservative leader Iain Duncan Smith, who believes the Tories should promise at the next election to “whittle away” unnecessary rules, reducing the “burden” on businesses and citizens.
He said: “Let us leave and then the Conservative Party at the next election needs to say, ‘we can reduce the cost on business and on individuals by reducing regulations which will improve our competitiveness, our productivity and therefore ultimately our economy.'”
According to a House of Commons report, ministers will have to import 19,000 EU rules and regulations on to our statute books as part of the Great Repeal Bill, which will take shape in a white paper published on Thursday.
EU regulations are estimated to cost Britain a total of more than £120?billion per year. The Common Agricultural Policy alone reportedly costs £10?billion in direct costs and by inflating food prices.
After Brexit occurs in 2019, the merits of each regulation will be assessed before a decision is made on whether to jettison it or not.
Lord Lawson, the former Chancellor, said the Conservatives must then swiftly seize the chance to “transform the British economy” by cutting “massive” numbers of EU regulations.