Two companies a month consider leaving Britain because of high taxes and regulations, according to the Confederation of British Industry (CBI).
Speaking at a recent press event Sir Digby Jones, CBI director general, said he knew of up to 25 large companies that were considering moving their head offices abroad, which he attributed to the cost of business going up.
Last week the Government published the Legislative and Regulatory Reform Bill in an attempt to cut business red-tape.
Commenting on the Bill, John Cridland, deputy director-general of the CBI, said: "The Legislative and Regulatory Reform Bill is a key plank in the foundations of the government’s better regulation agenda, and the ability to deliver more regulatory reforms quickly and efficiently is good news for business.
"Companies must now see delivery on these plans and start to feel tangible day-to-day benefits of these changes for their business and in the economy. Big is not always better and regulators need to apply regulation in a way that is proportionate to risk as well as being on the same wavelength as the companies they regulate," he added.
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