Will firms using cost reduction processes be encouraged by calls to reform regulation?
September 14th 14:58 Cost Management
A number of UK's manufacturers using facilities management cost reduction processes could be among those encouraged by new calls to reform the country's approach to regulation.
EEF, the manufacturers' organisation, has claimed that the current system needs to be changed if the UK is to encourage new and existing firms to stimulate job growth.
The organisation said this is "critical" if the private sector is to succeed in taking the slack created by public sector spending cuts.
Steve Radle, EEF director of policy, said: "Regulation is an essential part of a well-functioning society and can deliver major benefits.
"However, where it is excessive, ill-conceived or poorly implemented, it can impose significant cost on individuals, businesses and the wider economy with little or no benefit."
The organisation has now called on the government to come up with an "open and transparent" system with set limits for the total cost of regulation.
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