EU regulations will cost the UK economy £184 billion between 2010 and 2020.

Research from thinktank Open Europe has shown that a large number of EU regulations will cost the UK economy £184 billion between 2010 and 2020.

The organisation, which calls for EU reform, yesterday published a Top 100 list of the most costly EU regulations introduced in the UK since 1998.

Based on the UK Government’s own impact assessments, it estimates that the top 100 existing EU laws will cost the UK economy £184bn between 2010 and 2020, even if no new regulations are passed during that time period.

It claims that “for the same amount of money, the UK could abolish its entire budget deficit.”

Open Europe finds that while the UK benefits from some of these regulations, many laws originating in Brussels are overly prescriptive and unnecessarily burdensome, and asks that an incoming UK Government takes a “radical new approach to EU legislation”.

The most costly of them all is that of working time regulations, at £32.8bn over the ten years. Prescriptive working time rules have caused problems for the UK’s public sector, including compromising NHS patients’ safety, according to a recent Government report.

Another big cost is that of the Climate Change Act 2008, which while a clearly vital cause to fight, Open Europe claims that the package does not represent the most cost effective way to cut carbon emissions and just puts more pressure on homeowners to pay larger energy bills.

Along the same thread, it said that the Energy Performance Certificates for buildings will cost £20.2bn by 2020. This Directive gave rise to the Home Information Packs, which have been criticised by some estate agents, chartered surveyors and consumer groups for creating extra costs for homeowners while providing little benefit.

The new rules for temporary agency workers – under the Temporary Agency Workers Directive – could, according to former Business Secretary John Hutton, consign “literally thousands of people to benefit dependency“ in the UK, and will potentially cost the UK £15.6bn.

Open Europe’s Research Director, Mats Persson, said: “Despite some attempts at reform, the cost of EU regulation continues to rise year on year. Some of these regulations might be helpful but far too often the cost of EU rules outweigh the benefits.

“The UK is facing a massive public deficit, so the Government should be doing everything it can to save money. Targeting even just a few of the most costly EU regulations could save taxpayers and business billions every year.

“There is almost no point in trying to cut regulation without concentrating on EU rules, since 72% of the total cost of UK regulation now originates in Brussels. The next UK Government must take a new, radical approach to cutting red tape, and this means getting smarter and tougher when negotiating in Europe.”

Is it not enough that we create a multitude of our own national regulations without having costly and questionably valuable laws come down on us from Brussels? A new government will need to be strong, and achieve a careful balance between the needs of the UK alongside the wellbeing of Europe as a whole.

To read the full Top 100 list, click here.