'Labour's mountain of red tape will cost consumers and business billions'

LABOUR policies will cost businesses and consumers billions of pounds and create mountains of red tape, a report warns.

- Martyn Brown

Sir Keir Starmer's plan to introduce 62 new regulations will have "far-reaching economic consequences", according to the Institute of Economic Affairs.

This is more than double the amount contained in the Conservative Party manifesto and 48 more than proposed by Nigel Farage's Reform UK.

The Liberal Democrats have proposed the most new regulations, with 128 policy measures, followed by the Green Party at 104.

Details of the cumbersome red tape were unearthed by the rightwing free market think tank following a forensic analysis of each party's General Election manifesto.

Author of the paper and IEA director of public policy and communications Matthew Lesh, also welcomed some manifesto commitments, such as planning reforms, that could reduce business burdens and grow the economy.

But he warns the overall trend is towards increased compliance.

Mr Lesh said: "The major parties are proposing a tsunami of new regulations that could significantly increase costs for businesses and consumers.

"These policies will have far-reaching economic consequences, from banning petrol cars to mandating higher energy efficiency standards.