More on how regulation aids big business against entrants

Mr Cable: 'Regulation is too often the creature of big businesses with the resources to handle it forcing out the small.  The cost to business of regulation currently in the pipeline is around £20bn: far in excess of any direct help the Government does or can give. Of course regulation can be necessary to protect consumers, the environment and the labour force.  But it must be proportionate.  I used a statement to Parliament yesterday explaining how this Government will embark on radical steps to remove and stop unnecessary and costly regulation.'

Yet the European Parliament (quite rightly) asks big companies to account for human rights, notably Siemens Nokia Networks for their Iranian operations.