At the Birmingham summit, Chancellor Rachel Reeves also announced over £10 billion in new private investment in projects across the UK, creating jobs and prosperity for working people.
Livingston MP Gregor Poynton has welcomed the UK Labour Government’s announcement of a major drive to cut business red tape, saving firms across the UK nearly £6 billion a year by the end of the Parliament.
The measures were unveiled by Chancellor Rachel Reeves at the first-ever Regional Investment Summit, where she set out plans to scrap unnecessary paperwork, speed up planning processes, and reduce administration by 25%, a key commitment in the Government’s Modern Industrial Strategy.
The crackdown will simplify corporate reporting rules for over 100,000 firms, cutting needless form-filling for small enterprises like cafés, start-ups, and micro-breweries.
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Mr Poynton said: “Business owners across the Livingston constituency and West Lothian tell me time and again that excessive bureaucracy holds them back.
“That’s why I’m delighted to see this UK Labour Government taking real action to cut red tape and help local firms grow.
“Saving businesses hours of unnecessary admin means more time spent serving customers, creating jobs, and driving investment here in our community.”
At the Birmingham summit, the Chancellor also announced over £10 billion in new private investment in projects across the UK, creating jobs and prosperity for working people.
This includes £6.5 billion from Welltower to expand elderly care facilities and a further £4.5 billion unlocked by the Crown Estate’s new Harwell East development.
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The Government will also invest millions more in regional projects to boost productivity and growth, a central part of its Plan for Change.
Business and Trade Secretary Peter Kyle said: “A central part of our Industrial Strategy is slashing needless red tape that blocks business growth, and today is precisely about that.
“We are backing Britain, backing British businesses to thrive and grow and as part of our Plan for Change, these changes will boost jobs and grow the economy right across the country.”
The Regional Investment Summit brings together business leaders, investors and local authorities to deliver on the Government’s mission of sustained economic growth, ensuring that the benefits of investment reach every part of the UK, including towns like Livingston.
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