The Telegraph, October 15, Barnabas Reynolds
The Prime Minister has lost a Chancellor after the markets forced her to abandon the tax cutting plans announced by Kwasi Kwarteng. But she must not let the instability in the markets and at Number 11 derail what is arguably her most important plan: deregulation.
Truss is right that the essential post-Brexit future for the UK involves creating a more competitive economy and driving growth. A core ingredient in this is deregulation. The legal and regulatory system we have inherited from the EU is uncompetitive and bloated.
It contrasts sharply with the UK’s traditional approach to law and regulation, which is much admired for its pragmatism and ability to achieve higher standards with fewer, clearly drafted rules.
Regardless of political choices over any particular laws, our legal method itself makes us intrinsically more competitive than most other countries, and the EU. Recent economic research, particularly from the US, shows that the Anglo-American approach to law leads to greater economic growth over time.
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