Politics
Brexit: Leaving the EU will save $ 200 billion in red tape Boris pledges to cut Brussels legislation | Politics | New
The Institute of Economic Affairs (IEA) also urged Boris Johnson to seize the opportunity of Brexit to make "significant change" to "the regulatory state".
The IEA warns that EU laws are being "en masse" into UK law as part of Brexit and that regulators are reluctant to reform.
The think tank plans to publish detailed studies on the various regulators, such as the Information Commissioner and the data watchdog, and to identify red tape that could be reduced.
A first article by Victoria Hewson, head of regulatory affairs for the think tank, warns that regulations are judged by their "intentions" rather than by their results, and that the rule of law is at risk. "undermined" by "weak mechanisms" to keep regulators estimating.
Hewson says official cost-benefit analyzes of watchdogs such as the Information Commissioner are "unsatisfactory" because they "are not trying to capture the dynamic impacts on innovation and competition".
The document states: "Using the high-level methodology previously applied by the Better Regulation Executive, the total cost of regulation in the UK today would be estimated at around £ 220 billion a year.
"However, such estimates are of limited value because it is difficult to calculate the macroeconomic costs and benefits and the dynamic effects on the markets, or to quantify the costs for individual freedom and democracy."
Ms. Hewson said the AIE program will include new work to calculate the cost of paperwork for the economy.
She said: "By attempting to quantify the impact of regulations on the economy, as well as the rule of law and individual freedoms, the regulatory affairs agenda will contribute to the ongoing discussion on UK's future relations with the EU as well as the general discussion of bureaucracy in the UK. "
Mr Johnson is committed to cutting red tape in the EU.
The Prime Minister has indicated that he intends to remove EU rules which require the government to award contracts to companies on the basis of the lowest price.
British small businesses have long complained that this leaves them outclassed by foreign companies offering bargain basement rates.
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