A new report that came out touches on a very sensitive subject for all of us in the EU.
Arguments go back and forth about what we all get out of the EU, and the cost is often mentioned, as in what each nation pays into the kitty and is it all fair - but these things become insignificiant, thanks to this report.
Regulatory costs are the least controlled and least accountable amongst government costs. Many governments have no idea how much of their national wealth they are spending through regulation.
This report counteracts claims from the UK government as well as the commission that the cost to EU countries of over-regulation has been reduced - Ha :shock:
....Since the UK launched its 'Regulatory Reform Agenda' in 2005, the annual cost of regulation has gone from £16.5 billion in 2005 to £28.7 billion in 2008 – an enormous increase of 74 percent..
This is just the UK here.....and those funny symbols are meant to be UK-Pounds
Overall...the cumulative cost of regulations introduced over the past decade is £148.2 Billion, £106.6 billion, or 71.9 percent, had its origin in the EU ...
For Germany the cost to its economy in taking on new regulations over the last ten years has been a staggering EURO-280 billion. Of this amount, EURO-184 billion is sourced to EU legislation – which is the equivalent of over 7 percent of the country's GDP.
In France the cost was Euro-211 billion, of which almost Euro-144 billion – 68.1 percent – came from the EU.
Can anyone even start to justify this huge burden that is placed on nations by the excessive and often poorly thought out laws and directives that are imposed by a regime that demands total compliance ..... at the rate of upto 8 new laws per day ?
No wonder the recession is biting so hard - no wonder there is no resilliance in the economies of our once great nations.