Reeves’s pledge to save firms £6bn by cutting red tape dismissed as not ‘remotely serious’ by Tories – UK politics live

Chancellor and business secretary addressing regional summit in Birmingham amid gloomy economic outlookGood morning. Rachel Reeves, the chancellor, and Peter Kyle, the business secretary, are today addressing 350 business leaders and mayors at a regional investment summit in Birmingham. The event is a relatively big deal – Keir Starmer held cabinet a day earlier than usual to avoid a diary clash – and the Treasury claims that it is tied to £10bn in private sector investment being “committed to regions across the UK, alongside public investment, in onshore and offshore wind projects”.As Richard Partington reports, Reeves is announcing plans to cut administration (“red tape”) for business which she claims will save firms £6bn a year by the end of this parliament.By stripping back unnecessary rules and pointless paperwork we will free business to grow while ensuring vital protections are enforced. Creating a stronger growth a duty for regulators is a key part of this while greater transparency will ensure that they can be held to account. Continue reading...