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Explanatory Memorandum on a Statutory Instrument to bring EU sprout and seed regulation into domestic UK law calculates a cost to businesses of £5.7 million, based on the time they have to waste familiarising themselves with the changed regulations.
gov.uk/eu-withdrawal-…
gov.uk/eu-withdrawal-…
This is the hidden story of Brexit: the vast majority of the 600-odd Statutory Instruments introduce extra costs and red tape. Not necessarily significant in each case, but taken as a whole it's a gut punch to UK businesses everywhere. Like trying to drive with the handbrake on.
Incidentally, the Memorandum uses an accounting fiddle to avoid having to produce a full Impact Assessment, by translating what is clearly stated is a "one-time" cost into an "annual equivalent cost" of £600,000 (presumably by pretending the cost is incurred over a decade).
And magically that takes the £5.7 million below the £5 million threshold above which an impact assessment becomes mandatory. Hmm.
