Chancellor to scrap pointless paperwork in bonfire of business bureaucracy

Rachel Reeves will announce a ‘blitz of business bureaucracy’ with further cuts to red tape and a promise to save UK firms nearly £6 billion per year by the end of the parliament.

At the government’s first ever regional investment summit in Birmingham, the Chancellor will pledge a crackdown on pointless paperwork, alongside plans to speed up planning to deliver on the Prime Minister’s 25% admin reduction target.

Addressing an audience of more than 350 business leaders, local mayors and investors, the Chancellor will say: “Our mission is clear: to create the right environment for investment through our regulatory reforms, to crowd in capital through our public financial institutions, to break down silos to collaboration on local projects, and to support innovation and growth throughout the UK.”

Commenting on the cuts to regulation, Business Secretary Peter Kyle said: “A central part of our Industrial Strategy is slashing needless red tape that blocks business growth, and today is precisely about that.

“We are backing Britain, backing British businesses to thrive and grow and as part of our Plan for Change, these changes will boost jobs and grow the economy right across the country.”

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