The estimation of the administrative burden that we can reduce from existing regulations in order to balance any additional administrative burden from new regulations is an ongoing exercise. Our experience with the one-for-one rule is that it has encouraged us to focus very carefully on our existing stock of regulations, review them, and see what opportunities there may be to reduce administrative burden where it exists. That's an ongoing exercise, and we continue to do that to ensure we have that balance of administrative costs we can reduce in order to offset any additional administrative cost.
On December 2nd, 2014. See this statement in context.