Directors' red tape burden is rising

The amount of time company directors spend on regulation-related paperwork went up from 13 to 17 hours a month last year, according to a new report.

The Institute of Directors said the cost of dealing with the "burden" was 36.8 billion in 2010, up from 28.2bn in 2009. Miles Templeman, the IoD's director general, said: "Instead of creating new jobs, the UK's entrepreneurs are spending over a month each year handling government red tape."