Rachel Reeves, the UK Chancellor, plans to meet regulators to discuss reducing bureaucratic obstacles that hinder economic growth. She aims to cut regulation costs by 25%, streamline decision-making in environmental approvals, especially regarding major infrastructure like HS2, and potentially abolish some regulators. The goal is to reduce delays that cost businesses billions. Reeves posits that simplifying the regulatory landscape will boost investment and job creation. This meeting follows recent efforts to overhaul organizations such as NHS England, further aiming to create a more effective regulatory system.
By cutting red tape and creating a more effective system, we will boost investment, create jobs and put more money into working people's pockets.
Regulators must accept a more streamlined decision-making process to avoid delays and disputes that cost businesses billions.
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