A short thread on this £15bn a year red tape bill because I don't think it's fully sunk in how FLIPPING ENORMOUS THAT IS - on.ft.com/311Kfwd via @FT
A longstanding argument in government concerns how to help industry bear the cost of measures to decarbonise our energy system. By my estimate, the entire manufacturing sector energy bill is not much above £15bn. Their share out of cost of environmental levies? £2bn at most. 
Some post Brexit fantasists think an escape from EU environmental regulations could spark a manufacturing renaissance powered by newly-cheap energy. Um, no. £2bn on £400bn of sales? And screw the whole green energy industry?
What about the cutting regulation agenda? How does THAT compare to the £15bn figure? Well, we looked and looked during the coalition and look what we found. A really good half year was to find £500m - and that figure would typically ignore the benefits of regulation
So, to summarise: new customs procedures impose frictional costs around the same size as industry's energy bill, or a high multiple of every deregulatory initiative ever found over. And unlike those regulations, with no compensating advantage. Just. Pure. Friction
Flipping huge
Flipping huge
(I think we need a deal)
