Business leaders’ concern over Liz Truss plan for bonfire of EU regulations

Slashing EU red tape ‘a priority’ in plan to beat recession, says frontrunner in Tory race

Business leaders have voiced concern over Liz Truss’s plans for a bonfire of Brussels regulations, after she said that slashing EU red tape would be “a priority” in her plan to tackle the expected recession.

Speaking ahead of a business round-table on Friday, the frontrunner to succeed Boris Johnson announced plans for a working group of industry leaders to help draw up new UK-only regulations in time for a “sunset deadline” of 2023 for the abolition of EU-derived laws which she believes are holding back the economy.

Ms Truss said the UK had not moved fast enough to “take full advantage of Brexit”. As prime minister, she would “make it a priority to slash EU red tape” in order to boost economic growth.