Stiglitz has repeatedly vilified Dodd-Frank as too lenient, but every check in a policy box bears a price.

FORBES: Joseph Stiglitz Reminds Us That Nobel Prizes Are Highly Misleading

But Whitehall sources accused Mr Reid of attempting to "box the government into a policy just to satisfy the gaping jaws of the media" - claims denied by the Home Office.

BBC: NEWS | UK | UK Politics | Anger over Reid's migrant plans

Tax policy is in an entirely separate box.

BBC: INTERVIEW WITH: PETER HAIN

Items like box cutters and razor blades are still prohibited under the new policy.

WSJ: NY Senator opposes plan to allow knives on planes

He said the new policy had "succeeded in changing the label on the box", but added that "much of the original content remains".

BBC: Ofqual may step in over speedy GCSE shake-up

And as long as Democrats were willing to ignore the ever-increasing concerns of people who tied their faith with public policy, the GOP would continue to clean up at the ballot box.

CNN: Commentary: Democrats finally getting religion on religion

Cutting down on box-ticking and form-filling will help reduce costs, but leaves government policy, the source of most of the regulatory burden, untouched.

ECONOMIST: New plans to cut red tape address only part of the problem