ABSTRACT
Over the past decade and a half the assumptions of regulatory agen cies have been increasingly framed by the consideration of business interests. This chapter explores these assumptions as developed by the previous Conservative administration. It argues that such as sumptions are being adopted with only minor modifications by the current New Labour administration. Certain common themes can be identified in die business-friendly exhortations of governments of both persuasions. Chief amongst these is the increasingly strong im perative to regulatory agencies that enforcement should not be 'over-zealous'.1 Regulation, it is argued, should minimise costs and burdens on business, particularly small and medium-sized enter prises (SMEs).
