Business: Regulation
The question
To ask the Secretary of State for Business and Trade, with reference to the speech entitled PM remarks on the fundamental reform of the British state, published on 13 March 2025, on what methodological basis the Prime Minister said that compliance costs for businesses would be cut by a quarter.
Answered by Justin Madders
On 13 March, the Prime Minister issued a new target for the government to cut the costs of regulation to business. This target for government departments and regulators will lead to less red tape, more delivery and renew the country with economic growth. Government also successfully delivered a similar 25% reduction target between 2005 and 2010. The government will bring forward its plans to meet the target and its method for assessing progress towards it later this year.
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