"Chancellor Rachel Reeves is preparing to unveil a major "blitz on business bureaucracy" that the Treasury claims will save companies up to £6bn a year, as Labour seeks to reassure businesses ahead of a potentially tax-raising Budget next month. Addressing more than 350 executives, regional mayors and global investors at the government's first regional investment summit in Birmingham, Reeves will announce plans to cut "pointless admin" and remove regulatory burdens on SMEs as part of a wider productivity agenda."
"One of the flagship measures includes scrapping the requirement for directors of small businesses to file directors' reports with Companies House - a change expected to benefit more than 100,000 firms including microbreweries, independent retailers and hospitality operators. The move is part of a wider effort by Labour to signal it is "actively listening" to business concerns as boardrooms brace for potential tax rises targeting wealth and corporate profits in the 26 November Budget."
Chancellor Rachel Reeves will unveil a package to cut administrative burdens and regulation aimed at saving companies up to £6bn a year and boosting productivity. The measures target SMEs, including scrapping the requirement for directors of small businesses to file directors' reports with Companies House, benefiting more than 100,000 firms such as microbreweries, independent retailers and hospitality operators. The Treasury frames the deregulation drive as freeing time for investment, growth, hiring and innovation. The announcements coincide with ministers seeking to showcase private sector investment commitments of up to £10bn amid expectations of tax rises, OBR productivity downgrades and fiscal tightening.
Read at Business Matters
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