by business editor Trevor Sturgess

The coalition government has been urged to signal support for business and job creation by slashing red tape.

The British Chambers of Commerce today claimed that since 1998, new regulations have cost firms more than £88 billion.

Tomorrow, the government will spell out its plans in the Queen's Speech, and the BCC says this is the perfect opportunity to prove its commitment to job creation and "a better business environment".

Experts from London and Manchester business schools have compiled data for the BCC showing that the cumulative cost to business of new red tape since 1998 has risen to £88.3bn, a rise of £11bn since last year.

They say 40 extra regulations have been added to the so-called Burdens' Barometer since 2009.

Although 21 are said to yield a benefit to companies, the BCC says the net result is still a new, annual recurring cost to business of more than £1bn.

Of the 40 new laws, several involving a UK take on European legislation, the most costly are the Euro 5 and 6 Light Duty Vehicle Emissions Standards, with a recurring cost to business of £1.48bn and the Community Infrastructure Levy, imposing a one-off cost of £457m.

BCC director-general David Frost said: "The cost of dealing and complying with new laws and regulations over the last 12 years has been far too high.

"During this critical time for the economy, we need businesses to be driving recovery and creating jobs.

"But, the government must play its part by putting the brakes on the relentless flow of red tape."

He urged the new government to carry out an urgent and sweeping review of all regulations that cost business and a block on new employment laws until at least 2014.