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Cutting red tape makes 10 bn pounds in saving for British companies

ZAGREB, March 10 (Hina) - In 2011 Great Britain launched a Red Tape Challenge programme aimed at ripping up unnecessary rules and regulations that were getting in businesses' way, and to date the government has managed to cut 10 billion pounds of red tape, UK Ambassador to Croatia Andrew Dalgleish said at a conference on the British and Croatian approaches to better regulations held in Zagreb on Friday.

Addressing the event, organised by the British Embassy in Zagreb and Croatia's economy ministry, Ambassador Dalgleish said that the red tape reduction programme had been prepared in cooperation with British businesses that had an opportunity to give their opinions on how to reduce burdensome regulations and boost the business climate.

One of the most recognisable rules is "One-in, Three-out", which means that whenever a regulation creates costs, thrice as much saving must be found by scrapping or simplifying burdens.

Croatian Economy Minister Martina Dalic spoke about the implementation of the government's action plan to simplify administrative and regulatory rules and reduce costs in seven business areas.

She outlined the government's plan to lower extra-taxes by 20%-30% in the next three years.

Ian Bishop, executive director of the Better Regulation Executive, which is a part of the British Department for Business, Energy and Industrial Strategy, said that society can benefit from better regulations and that reduction and improvement of regulations made some 2.2 billion pounds annually.

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