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The government has announced a major shake-up in how UK regulators operate, aiming to make them more accountable and more focused on supporting business growth.
Beginning last week, regulators have a stronger growth duty, meaning they’ll be expected to balance their oversight role with helping businesses invest, innovate and expand. The change is designed to ensure regulation remains proportionate and doesn’t hold back economic activity.
A new public dashboard of regulator performance will also be launched. The new GOV.UK site, which will be updated quarterly, will bring together performance data into one place and allow for direct feedback to the government.
Business and Trade Secretary Peter Kyle explained that the aim is to strip back unnecessary rules and pointless paperwork while keeping essential protections in place. He described the stronger growth duty and new transparency measures as part of the government’s wider “Plan for Change” to boost investment and job creation.
For business owners, will these changes mean a more responsive and balanced regulatory environment that’s clearer about helping your business grow? Let’s see.
Many businesses start the year with ambitious sales targets. The problem is that increased sales do not always translate into increased profits.
HMRC is using Playday, the national day for play, to remind working parents about the Tax-Free Childcare scheme, which can help eligible families meet the cost of nurseries, childminders, holiday clubs, breakfast clubs and after-school clubs.
