U.K. Minister: Businesses Stifled by EU Regulations

Red tape is being cut at home, but there's plenty coming from Brussels

Red tape from Europe needs to be slashed if British businesses are to expand and boost the UK's faltering economy, business minister Michael Fallon has stated.

Speaking at a series of meetings with Members of the European Parliament, European Commission officials and businesses, the politician argued that smarter, simpler business regulation will help reduce the burden on British firms.

He declared that the coalition government's efforts to cut red tape have helped move the situation in the right direction, noting that around half of the regulations facing UK companies now come from Brussels.