The Government’s announcement of its latest move to gather de-regulatory suggestions from the public has been met with scepticism by the Institute of Directors (IoD).

The Red Tape challenge website was launched last week by the Prime Minister and Business Secretary Vince Cable. It aims to give the public a chance to have their say on regulations that affect their everyday lives.

The IoD argues that neither predecessor of the ‘Red Tape Challenge’ – the Your Freedom site and the Better regulation Portal – made any difference to businesses on the ground.

The IoD said: “This two-year initiative could waste vital time that would be better used tackling known regulations now.” Despite these concerns, the IoD has still submitted 266 regulatory case studies to the Government. It says the proposals put forward were shared with the previous Government, but resulted in no changes to the key areas.

IoD Head of Regulatory Affairs, Alexander Ehmann, said: “The IoD is concerned that the ‘Red Tape Challenge’ will have as little impact as previous government efforts.

“The truth is that the Government know where the regulatory ‘bodies are buried’. It’s not a case of asking businesses for suggestions again and again, it about getting on with the tough decisions that de-regulation requires.”