The Economist magazine suggested on 1st February 2025 that – “Governments everywhere are discovering a zeal for cutting red tape”. It went on to argue that “Done right, the anti-red-tape revolution could usher in greater freedom, faster economic growth, lower prices and new technology”. Ireland cannot avoid the revolution. As the NESC pointed out fifty years ago, Ireland cannot escape the economic effects of international developments – “…it is not possible to stop the world and let Ireland off”. In Ireland today, the ramifications of a new era in regulation are evident. This paper looks at the changing role of regulation through a series of questions. It looks at the purpose of regulations and cutting red tape. This paper also explores the Trump Administration's initiatives on red tape, as well as the European Commission’s proposals on the topic. The paper also considers Ireland’s place in this new world of deregulation.