Regulations impose hidden costs on companies and on the economy overall.
The competitiveness of European business is undermined by the existence of too many poor quality regulations. For example, a sound regulatory framework is an essential underpinning for the Single Market. Business recognises that regulations should foster consumer confidence and promote desirable social and economic objectives, but they must also encourage business activity. However, companies consider that the existing regulatory framework fails to do this efficiently. They consider that many regulations are unnecessary, costly and complex, with standards that vary too widely between countries.