UK government slashes corporate red tape, cutting paperwork ‘longer than The Hobbit’ Accountancy Ministers have announced sweeping reforms to corporate reporting, aiming to save businesses over £450m annually by ditching “Hobbit-length” paperwork. Under the overhaul, small and medium-sized enterprises (SMEs), including local family firms, will be exempt from certain reporting forms and audits, aiming to save businesses thousands of pounds and hours of administrative work. The Department for [...]
City leaders weigh employment policy alternatives to non-competes Law City businesses are expecting non-compete agreements to become less effective, looking instead to alternatives such as deferred bonus payments or share incentive plans to keep employees on board. In 2025, the Department for Business and Trade (DBT) launched a consultation to consider restrictions on non-compete clauses in employment contracts. The consultation closed for feedback in [...]
‘Pro-business’ Burnham eyes Reynolds return to top business job Business Andy Burnham is planning to bring Jonathan Reynolds back as business secretary as the incoming prime minister moves to deliver on his pledge to lead a “pro-business” government. Reynolds, who served as business secretary until last September before becoming chief whip, is expected to return to the department when Burnham unveils his cabinet this week, [...]
Rolls-Royce shares surge as SMR unit bags multi-billion pound Swedish nuclear contract June 15, 2026 Rolls-Royce’s special purpose vehicle for nuclear energy has secured a major win after locking down a multi-billion pound deal to build small modular reactors in Sweden. The FTSE 100 giant’s small modular reactor (SMR) unit, which is co-owned by Czech power company CEZ, designs and delivers factory-built nuclear power plants. Rolls-Royce SMR was selected by Swedish [...]
Instead of picking winners, Peter Kyle should get out of their way June 10, 2026 If Britain is to ever produce a trillion-dollar company, it will not be a result of the schemes announced by Peter Kyle and Rachel Reeves this week. It will be a result of creating an economic environment in which ambitious businesses can start, scale, invest and recruit without needing special handouts or assistance from the [...]
Government targets £99bn in Australian investment in major projects May 11, 2026 The government is looking Down Under to bankroll major infrastructure projects, as it aims to raise £99bn in Australian pension investment the next decade. Investment minister Lord Stockwood is touring Australia, Malaysia and Singapore this week as he positions the UK as the most “trusted, stable and connected” destination for funds in the region. The [...]
Business groups warn against axing ‘fundamental’ red tape watchdog March 16, 2026 Some of Britain’s largest business groups have urged the business secretary not to scrap a body responsible for scrutinising business regulation, saying it plays a “fundamental” role evaluating the impact of red tape on British firms. The intervention comes as the Department for Business confirmed to City AM that ministers are “considering the role” of [...]
Lex Greensill seeks to throw out director ban March 5, 2026 The government’s bid to disqualify the boss of collapsed lender Greensill Group from directing companies in the UK for 12 years should be thrown out as there “cannot be a fair trial”, the High Court has been told. The Department for Business and Trade (DBT) began proceedings against Lex Greensill in 2024 after the Insolvency [...]
Former Amazon boss to keep CMA chair February 23, 2026 Doug Gurr has been confirmed as the government’s preferred candidate to continue in the role of chair of the Competition and Markets Authority (CMA). Gurr, a former boss of Amazon UK, was parachuted into the role on an interim basis last January, but will now complete a full five-year term. Business Secretary Peter Kyle said [...]
Labour scraps Audit Reform Bill to ‘avoid’ costs on firms January 20, 2026 The Audit Reform and Corporate Governance Bill, added into Labour’s first King Speech, is now being scrapped to “avoid significant new costs to firms”. The reform was first raised in 2018 following the collapse of Carillon, but has been on and off the table ever since. The Bill was shelved by the previous government in November 2023 [...]