Reeves meets regulators to cut UK red tape

Chancellor Rachel Reeves is set to meet with eight regulators at Downing Street to discuss significant cuts to business regulations, aiming to reduce compliance costs by a quarter. This initiative follows the government's recent decision to abolish NHS England and includes plans to fold the Regulator for Community Interest Companies into Companies House. Reeves asserts that the government is taking action to free businesses from regulatory burdens, which she believes will boost investment and job creation. Proposed changes include streamlining environmental permitting processes and simplifying mortgage lending rules, along with 60 measures designed to facilitate economic growth. The Conservative Party has criticized Labour's approach, claiming that excessive taxes and union regulations are detrimental to growth. Reeves emphasized that regulators need to work for the public, rather than impede progress, as the government seeks to enhance the efficiency of the UK's regulatory framework.