John Hutton

Here in the UK the government has decided to accept the recommendations of the Better Regulation Task Force to measure and make targeted reductions in the administrative costs - the red tape costs - that regulations impose on business.

After decades spent in rewrite rooms surrounded by other shouting writers, I discovered that I work best alone. I like being in charge of my time, working out the problems according to my own rhythms and being able to nap. That's a big one, the napping on demand!

We feel no isolation. But, having said that, I want to emphasise in particular that we do not want to go to extremes and abandon the European and American directions in our foreign economic cooperation.