The Government’s red tape drive has saved business £10 billion over the last four years, new data reveals.
Business Minister Matthew Hancock today announced the Government’s war on red tape has saved business £10 billion over the last four years.
The Red Tape Challenge, which has been driven by businesses across the country, has acted on over 30,000 comments from the public to abolish or reform regulations to ensure they work for – and not against – business. The programme is on track to exceed its target of savings business £850m per year. We have produced an infographic to highlight some of our key successes.
Business Minister Matthew Hancock said: “Today is a milestone for businesses of all shapes and sizes. I am very proud that the Government is the first in modern history to cut red tape and free up business to create jobs and prosperity.”
This is part of a wider government commitment to make Britain the best place in the world to start and grow a business and create millions more private sector jobs.
The Ninth Statement of New Regulation, the government’s official progress update on regulation, details all regulatory changes to affect business made over the full course of the Parliament. All Statements of New Regulation can be found here.