Hm. Let's take a closer look at what the article is saying:

A study by Open Europe, found Brussels legislation has cost the British economy £124 billion, accounting for 71 per cent of the total cost of all red tape, both national and European, implemented in Britain since 1998.
Assuming that these figures are accurate (Which isn't likely, given the weasely ways of this thinktank ), this means that £174.67 billion has been spent on regulations. This in turn means that about 50 billion is domestic regulation.

The think tank studied thousands official impact assessments to find that EU regulation is 2.5 times less cost effective than domestic laws.
Wow Daily Torygraph, that takes sloppy journalism on the EU to a new low. That's either gross and deliberate misinterpretation of the figures, or your journalists don't have Year Nine maths skills. 124 billion is 2.5 times more than 50 billion, yes, but that has nothing to do with efficiency or cost effectiveness.