Healey moves to slash red tape and save firms £800m a year

Chancellor John Healey has said a package to streamline regulation on reporting requirements as well as further tariff reductions will save businesses around £800m a year.  In a pre-Budget announcement to offer “breathing space” to businesses, Healey confirmed that the government would make reporting requirements for firms and asset managers easier.  The changes on reporting regulations and an extension of import tariff suspensions on more than 250 products contribute towards a government target to reduce the administrative burden of regulation by 25 per cent by 2030. “British firms are fed up with form-filling and pointless paperwork that eats into valuable time and money when they simply want to get on with running their businesses,” Healey said. “That is why we are cutting unnecessary bureaucracy and giving businesses the breathing space they need to invest, innovate and create good jobs.” Andy Burnham and business secretary Jonathan Reynolds will convene business le