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What is red tape?

What is red tape? Here are some definitions.

Noun
  1. The binding tape once used for holding important documents together.
  2. (metonymy) Time-consuming regulations or bureaucratic procedures.
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Examples
In contrast, it plans to cut the amount of red tape covering those products available only to institutional and expert investors.
Residents of a South Lakeland hamlet are in political purgatory after members of the parish council resigned over red tape.
Businesses say the advantages of trading with Europe have to be weighed against the increased cost of red tape.
Without it, red tape will strangle plans for the Queen to unveil the memorial on the eve of the 60th anniversary of VE Day.
The theatre's dark today, which is just as well because the police have just cordoned off the top of Roseberry Avenue with red tape.
The bureaucratic red tape and formalities that one has to go through is the source of frustration to everyone who lives here.

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