UK Government Announces Major Regulatory Overhaul to Boost Economy

Chancellor Rachel Reeves outlines plans to cut business costs by reducing red tape and restructuring regulatory bodies.

Chancellor Rachel Reeves met with regulators to unveil an action plan aimed at reducing regulatory costs for businesses by 25%.
The plan includes abolishing or merging several regulatory bodies, such as NHS England and the Regulator of Community Interest Companies.
Key measures include simplifying environmental permitting, fast-tracking new medicines, and easing mortgage lending rules.
The initiative seeks to accelerate major infrastructure projects, such as the Lower Thames Crossing and Heathrow's third runway.
Critics express concerns over weakened environmental protections and the potential long-term economic and health impacts.