The UK government is taking action to cut red tape and reduce regulatory costs for businesses. Chancellor of the Exchequer Rachel Reeves will convene a meeting with heads of regulatory agencies at 10 Downing Street on Monday, with the goal of cutting regulatory costs by a quarter. The meeting aims to discuss streamlining environmental permitting processes and reducing red tape that hinders new housing and infrastructure construction, ensuring a more efficient and business-friendly environment.
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03-17, 2025These measures echo the government's plan to abolish or streamline some regulatory bodies. Previously, Prime Minister Keir Starmer announced the abolition of NHS England. Heads of eight regulatory bodies, including Natural England and the Environment Agency, will attend Monday's meeting with the Chancellor, signaling a comprehensive review of regulatory practices across various sectors.
Reeves stated, "Today, we are taking further action to free businesses from the shackles of regulation. By cutting red tape and establishing more effective systems, we will promote investment, create jobs, and increase the income of working families." The government stated in a statement on Monday that "regulators must serve the people... not stand in the way of progress," highlighting the need for regulatory bodies to facilitate rather than impede economic growth.
The reforms expected to be announced include simplifying environmental regulatory processes for major projects, such as the Lower Thames Crossing (requiring planning approval) and future Heathrow Airport expansion projects. Simultaneously, the government will review environmental guidance, including hundreds of pages regarding bats, and abolish environmental permits for some low-risk and temporary projects. Furthermore, the government will approve at least two large-scale drone flight trials in the coming months for cargo transport, which it says has reduced the transport time of blood samples between hospitals from 30 minutes to 2 minutes, showcasing the potential for technological innovation in healthcare logistics.
In addition to the above measures, the government will abolish the regulator for Community Interest Companies, merging it into Companies House. The Chancellor has pledged to significantly reduce the number of regulatory bodies before the end of this parliamentary term. Shadow Chancellor Mel Stride stated that Labour's tax and trade union red tape are preventing businesses from focusing on growth. Dr. Roger Barker, Director of Policy at the Institute of Directors, said, "It is appropriate that the government is rebalancing its strategy with a pro-business core," as "compliance with burdensome regulations is frequently cited by IoD members as one of the main factors negatively impacting their businesses," indicating a positive response from the business community.
