Rachel Reeves has announced a slash to “pointless paperwork” and other bureaucracy for UK businesses
The chancellor’s UK business blitz is expected to save businesses £6bn per year.
This will primarily be achieved by reducing the paperwork and red tape they will have to navigate, as well as speeding up planning decisions.
The chancellor is targeting 25% in admin reduction
In the announcement, more than 100,000 firms will qualify for simplified corporate reporting rules, and when building, digital planning checks will see photo evidence being sent to authorities online, and AI models will make decisions, streamlining the process.
A new map of underground cables and pipes will also be launched to allow planning officials avoid delays from accidental damage.
Further good news for the construction industry comes from the announcement of investment into regional projects, including on- and offshore wind projects in Norfolk and Orkney, new manufacturing spaces and laboratories in Harwell East for the Crown Estate, and a heat network in Hull.
Rachel Reeves said: “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.
Over the last year, we have welcomed billions of pounds of foreign investment in the UK in addition to the domestic investment made by businesses every day. But these are not just numbers. These are higher wages. They are better homes. It’s the transport, energy and digital infrastructure that underpins our nation.”
The chancellor’s speech can be read in full here.
The National Federation of Builders welcomes the announcement
Of the announcements, Richard Beresford, chief executive of the National Federation of Builders (NFB) said: “Today’s small businesses are tomorrow’s regional and big businesses. Removing disproportionate regulation, reporting and form filling is vital in helping them establish themselves and grow.
“The digitisation of planning is also hugely welcomed. It encourages further modernisation which enables future placemaking, helps businesses plan ahead, and ensures the UK is more attractive to investors”
Rico Wojtulewicz, head of policy and market insight at the NFB, added: “SME firms were looking at Labour to fix blocks to their business. There may be no overnight miracle or silver bullet, but the Government is clearly listening. The onus is on businesses to tell the Government what bureaucracy needs slashing and which foundations need fixing.
“Digitisation of planning is the foundation in most urgent need of fixing. Every utility company and local authority stores data differently, meaning it is hard for everyone – including Government – to identify successful or failed projects.
“The Chancellor’s announcement might not be glamorous or make headlines, but it will help the Government analyse and plan what needs to change. This is the start of the long-term modernisation strategy the nation desperately needs.”
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