UK Chancellor Unveils £6bn Regulatory Overhaul to Stimulate Growth
Chancellor Rachel Reeves announced a sweeping £6 billion initiative to slash bureaucratic hurdles for small businesses during the Regional Investment Summit in Birmingham. The plan targets "pointless paperwork" and "unnecessary form-filling" while maintaining transparency in mergers and acquisitions. Treasury officials frame the MOVE as part of a broader growth strategy through deregulation.
The Institute for Fiscal Studies has separately urged Reeves to leverage November's budget for substantive tax reforms. Isaac Delestre, a senior IFS economist, cautioned against haphazard changes: "What we really do not want... is the encouragement of aimless changes and half-hearted solutions." The think tank opposes raising tax rates to meet the £30 billion fiscal target, advocating instead for systemic adjustments.
