Government announces plans to slash red tape and give businesses more breathing space
The Government has unveiled measures designed to give UK businesses more room to invest and grow by reducing bureaucracy and import costs.
23 Oct 2026
The Government has unveiled measures designed to give UK businesses more room to invest and grow by reducing bureaucracy and import costs. It estimates the package will save firms almost £800 million a year through clearer compliance guidance, simpler corporate reporting and fewer duplicate information requests.
More than £600 million of the projected annual benefit will come from administrative savings. The Government will also extend tariff suspensions on more than 250 products used by businesses, potentially cutting import costs by up to £155 million annually.
The reforms support a wider target to cut businesses' regulatory administrative burden by 25% by the end of Parliament. Further proposals for small businesses include standardising requirements for public contracts, making government guidance easier to find and pausing the Companies House profit and loss filing requirement for April 2028.
The British Chambers of Commerce (BCC) welcomed the announcement while calling for broader action on costs. Kate Shoesmith, Director of Policy at the BCC, said:
'...clearer guidance, simpler reporting and fewer duplicate requests are sensible changes with genuine benefits... But all eyes will now turn to next week's Budget. Government cannot cut red tape with one hand and add new business costs with the other. The message from firms is simple: back business by cutting costs and they will deliver growth.'
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