The Daily Telegraph, June 14, Barney Reynolds
Law matters. The method by which policies are written as law also matters – for the economy and our society.
In my view, a key reason why the UK’s labour productivity has seen such sluggish growth since the financial crisis of 2008-09 was the adoption of vast swathes of EU law, produced using the EU’s alien (to us) code-based civil law method.
Much of that law, which we helped to create, was regulation of financial services, one of our key sectors.
This seemed to stifle entrepreneurialism in the wider economy by applying a bureaucratic approach and facilitating precautionary governance by regulatory officials.
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