March 17, 2025 - 10:39
British finance minister Rachel Reeves is set to meet with key financial, environmental, and health regulators on Monday to present a comprehensive "action plan" aimed at reducing bureaucratic hurdles. This initiative is part of a broader strategy to streamline oversight in sectors deemed vital for stimulating economic growth.
In a move that follows Prime Minister Keir Starmer's announcement regarding the abolition of a regulatory body overseeing the state-funded health system in England, Reeves will commit to lowering the administrative costs associated with business regulation by 25%.
In her statement, Reeves emphasized the importance of this initiative, declaring, "Today we are taking further action to free businesses from the shackles of regulation." This proactive approach reflects the government's intent to foster a more conducive environment for business operations, ultimately aiming to enhance economic performance and efficiency across various sectors. The upcoming announcement is anticipated to resonate positively with the business community, eager for a reduction in regulatory burdens.
