§ Dr. Howells
Any 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. Redwood
To 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.