The author examines the development of the Better Regulation Agenda launched by the European Commission since the late 1990s. Three main evolutions are emphasised: the gradual shift towards establishing a direct link between the regulatory environment and competitiveness, growth, jobs, and small and medium enterprises (SMEs); the extension of simplification and reduction of the regulatory and administrative burdens to the entire acquis communautaire, including the implementation of EU law at the national and subnational level (REFIT); and the introduction of the so-called “one in one outµ policy by the current European Commission. In the final part of the paper, the author outlines some proposals to redefine the EU Better Regulation Agenda in order to link it to the fundamental values of the EU.