The prime minister has been accused of breaking his word about the decision not to repeal thousands of EU laws by the end of the year.
On Wednesday, the trade secretary, Kemi Badenoch, outlined changes to a supposed bonfire of EU legislation that had originally meant thousands of laws would automatically face the axe on 31 December under a controversial sunset clause.
The government has now aims to eliminate 800 laws and regulations, instead of the 3,700 laws it had previously said it would repeal.
Passengers rights and compensation for cancelled flights, equality in employment, environmental standards and protections were among the list of laws enacted.
Rishi Sunak had promised to review or repeal EU laws in his first 100 days in office.
The new policy came to light after Badenoch briefed Eurosceptic MPs in the European Research Group at a meeting in April.
Rees-Mogg told BBC Radio 4's Today programme that Sunak had broken his word which was very serious. This comes back to the prime minister's promises in his video during his leadership campaign when he said he would do this.
He had already given consent to the retained EU law bill at that time. The prime minister knew it was a challenging task. He knew it would be an effort to get it done by actually a slightly longer deadline at that point. He accepted the 2023 deadline. He continued his attack on the prime minister, accusing him of behaving like a Borgia.
When Rishi Sunak Resigned as chancellor he said in his resignation letter to Boris Johnson that he believed the public are ready to hear the truth and that our people know that if something is too good to be true, then it s not true.
He then said something that everyone like me wanted to hear, and has failed to deliver it.
I m afraid it s no good to be holier than thou if you end up behaving like a Borgia. Rees-Mogg argued that the Bank of England is likely to raise interest rates because we have an inflationary problem.
The supply side reforms that are being implemented are among the other ways to help tackle inflationary problems that are reducing regulations that hold the economy back.
Over the years, we introduced a set of rules from the European Union that made us less economically competitive.
Setting a deadline, theoretically, makes Whitehall work without a deadline, nothing will happen, and we will retain these laws for a long time. The Conservatives were disappointed by Badenoch's choice not to discontinue thousands of EU-era regulations.
Badenoch appeared to blame Whitehall officials for the move. She said: I decided a new approach was needed; one that will ensure ministers and officials are freed up to focus on more reform of REUL Retained EU Law and to do it faster. Labour said the move was apathetic U-turn from a weak and divided government while the Liberal Democrats accused ministers of leaving a lot of uncertainty hanging over the status of legislation.