Stupidity of a Treasury Tweak ; City Comment
Evening Standard - London › September 22, 2004
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Summary
IT MAY be good politics for Tory shadow cabinet member John Redwood to blame Brussels for the bulk of regulation falling on British firms, but it ignores an uncomfortable reality. A major reason why Brussels regulation is so punitive is that the British Government and regulatory bodies cannot resist gold plating it before imposing it on us.
A classic case of this has been grinding on for almost six months concerning the insurance mediation directive. Basically, this is a measure to bring in some Europe-wide regulation of insurance brokers, particularly those who have offices in the nation's High Streets and arrange house, car and household contents cover for the retail market.See the full content of this document
Extract
Stupidity of a Treasury Tweak ; City Comment
When deciding how this directive should be applied in Britain, the Treasury decreed that it should also catch people who work in the insurance departments of big companies and arrange cover for t...
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