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£1.9 billion boost for business

23 December 2008

Business is saving an estimated £1.9 billion a year in time and money, according to the latest progress report from the Government's programme to cut red tape.
The report sets out 240 measures to date that Government is taking to make regulation simpler for businesses, charities and the public sector. It also shows that government is on track to meet the target of cutting the administrative cost of regulation by 25% by 2010, that will deliver an estimated £3.4 billion a year in savings.

£1.9 billion boost for business
£1.9 billion boost for business

Stephen A. Carter, Minister for Regulatory Reform, said: "This is a welcome estimated £1.9 billion boost for businesses in these challenging times, saving time and money when it is most needed.

"Delivering better, more efficient, regulation should strike the right balance between providing essential protections and not stifling business and harming the prospects for economic growth. And smart regulation can play a vital role in creating a better economic environment for business now and in the future."

The business community, focusing on the top delivery measures, has helped examine in detail and agree with the impact measures are having on businesses. Their validation represents approximately 80% of the savings estimated to date.

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