Report

Shadow expenses

This report from UK think tank the Institute of Economic Affairs provides a list and numerical count of regulatory measures across the six largest parties by vote share.

The general election campaign has focused on tax and spending promises, with much less attention paid to proposed regulatory measures.

Regulations often have well-intentioned goals, including protecting health, safety and the environment. But new rules can also impose costs on businesses that hinder economic growth, drive up prices, and stifle innovation. The regulatory proposals in a manifesto will likely have larger economic impacts than the proposed fiscal changes for many of the parties.

Despite claims that manifestos are ‘fully costed,’ no party has provided costings for their regulatory proposals. There are a total of 361 policies across manifestos that increase the regulatory burden, while 67 would decrease it: Labour: 62 policies to increase, 13 to decrease. Conservatives: 28 policies to increase, 20 to decrease. Reform UK: 14 policies to increase, 15 to decrease. Liberal Democrats: 128 policies to increase, 11 to decrease. Green Party: 104 policies to increase, 8 to decrease. SNP: 24 policies to increase, 0 to decrease.

Britain’s prosperity depends on balanced regulatory controls, and parties should avoid increasing costs with uncertain benefits and without careful analysis.