The government will be scrapping ‘pointless paperwork’ and speeding up planning to save businesses nearly £6bn per year and deliver on the prime minister’s 25% admin reduction target.
The crackdown on paperwork will see over 100,000 firms qualify for simpler corporate reporting rules, freeing up businesses to focus on growth.
Examples of businesses the change will benefit include putting an end to micro-breweries having to account for every hop they buy, and removing the need for small business owners like family-run cafes to submit director reports to Companies House.
New plans for digital planning checks would see developers sending photo evidence to authorities online to then be approved using trained AI models.
A new online map of underground cables and pipes will also help planning officials and builders avoid lengthy and costly delays caused by accidental damage without having to contact multiple utilities companies.
It is hoped that the change will save businesses with employees around on average 200 hours on administrative activities per year.
Chancellor Rachael Reeves will set out plans to more than 350 business leaders and mayors at the government’s inaugural Regional Investment Summit in Birmingham.
“Our mission is clear: to create the right environment for investment through our regulatory reforms, to crowd-in capital through our public financial institutions, to break down silos to collaboration on local projects and to support innovation and growth throughout the UK,” Reeves will say.
The Regional Investment Summit will see business leaders, investors and local leaders come together, building on the £150bn investment commitments made during the State Visit. The event is expected to see over £10bn of private sector investment committed to regions across the UK alongside public investment in onshore and offshore wind projects.
