Matthew Hancock claims red-tape savings of £10bn for UK businesses

Business Minister Matthew Hancock yesterday said a crackdown on red tape had saved UK businesses £10 billion over four years.

The Red Tape Challenge was driven by 30,000 businesses and members of the public across the UK and has led to bad regulation being overhauled.

Among the changes made to so-called “pointless” legislation were a redefining of what constitutes jam, and a move to count cattle movements digitally rather than using a paper system.

Mr Hancock said; “Now we are officially winning the fight at home, we have to take the battle against red tape abroad.”