Chancellor plans to cut 'pointless paperwork' to save businesses up to £800m
The UK Chancellor has announced plans to reduce business regulations and paperwork, aiming to save companies up to £800m. The government intends to cut red tape by 25% by the end of the current Parliament to encourage investment.
Why it matters
This policy shift is intended to stimulate economic growth and reduce administrative burdens on businesses, though it faces scrutiny from political opponents.
Image source, PA Image caption, John Healey becomes the latest chancellor to pledge to cut red tape for businesses ahead of his first Budget
The chancellor has announced plans to slash "form-filling and pointless paperwork" to save UK businesses up to £800m.
Ministers have said the proposed changes in regulations, announced ahead of John Healey's first Budget on Wednesday, will reduce unnecessary bureaucracy for businesses.
The move is part of a broader effort in the Budget to offer households and businesses more support amid rising costs.
In response to the announcement, the Conservatives said Labour had only made problems worse for businesses.
"Labour have finally admitted that endless red tape is hammering businesses and killing jobs across the country," shadow chancellor Andrew Griffith said.
Healey acknowledged British firms are "fed up with form-filling and pointless paperwork" eating into time and money that would be more valuable invested into their businesses.
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