Business: Operating Costs
The question
To ask the Secretary of State for Business and Trade, what steps he is taking to support businesses with their operating costs.
Answered by Blair McDougall
We are committed to reducing operating costs for all UK businesses, including those in Eastleigh and across Hampshire.
We are reducing the annual administrative burden of regulation by £5.6bn by 2029, enabling UK businesses to unlock growth and boost innovation.
Introducing e-invoicing will also increase efficiency and streamline tax administration.
Tackling late payments will give the UK the strongest legal framework in the G7, intending to legislate as soon as parliamentary time allows. We will publish our response to the late payment consultation setting out the measures we will take forward.
In addition, we are protecting full apprenticeship funding and extending it up to under 25s reducing administrative barriers further.
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