The UK government, led by Chancellor Rachel Reeves, is set to announce a plan to cut bureaucratic red tape by 25%. This initiative includes reducing the number of regulators and streamlining environmental regulations. Key elements of the action plan aim to create a more favorable business environment through 60 agreed measures, such as fast-tracking new medicines and simplifying mortgage lending rules. This reform is part of the Labour government's wider agenda, following Prime Minister Keir Starmer's pledge to enhance economic growth and living standards, despite facing decreasing support.
Under the plan, the government will cut the number of regulators, streamline environmental regulations for major projects, and slash costly red tape, including guidance on protecting bat habitats.
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, Reeves said.
Starmer's Labour government was elected in July on the back of a pledge to kick-start economic growth and boost living standards after years of stagnation and decline.
After sweeping to power in a landslide, Starmer has rapidly shed support as his government struggles to find savings while also boosting growth.
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