“The Government’s intention to review many thousands of pieces of EU-derived legislation by the end of 2023 risks creating a bureaucratic nightmare for both business and the civil service.

“Such a review is likely to create a huge amount of uncertainty around the regulatory framework navigated by business. This is the last thing that business needs in such a fragile economic environment.

“There is also a material risk of unintended consequences, especially if existing regulation is removed or changed without adequate consultation with relevant stakeholders.  Given that we are talking about literally thousands of pieces of legislation, it is hard to imagine that the necessary scrutiny can occur over the envisaged timescale.

“Like it or not, EU-derived law forms part of the UK’s existing legal infrastructure. Although regulatory reform may well be appropriate in specific areas, now is not the time to commence a wholesale review of UK law based purely on its EU provenance. Legal reform should be driven by pragmatism rather than ideological imperative.

“Given the magnitude of the economic challenge which currently faces the UK, it is essential that the UK government is not distracted by activities that will ultimately do little to reboot the economy and regain business confidence. The Retained EU Law Bill would create such a distraction on a massive scale. With that in mind, we encourage the Government to reconsider its intention to push forward with this Bill.”