House of Commons · Written Ministerial Statement
Regulation Action Plan Update, and Modernisation of Corporate Reporting
21 October 2025 · Department for Business and Trade
Proposed by Blair McDougall Lab East Renfrewshire
Summarised by AI from the official record, so it can contain mistakes.
At a glance
Key points
- UK government aims to reduce regulatory administrative burden on businesses by 5.6 billion by the end of the current Parliament.
- Legislative changes will be implemented to free up to 51,000 companies from unnecessary reporting obligations.
- A consultation on simplifying and modernising corporate reporting will be launched in 2026.
Issue summary
The statement discusses the UK government's progress in reducing the administrative burden of regulation on businesses and modernising corporate reporting.
Action requested
The government commits to reducing regulatory admin burden by £5.6 billion by the end of this Parliament, implementing legislative changes to lift up to 51,000 companies from unnecessary reporting obligations, and launching a broad consultation in 2026 on simplifying and modernising corporate reporting.
Key facts
- The government aims to reduce regulatory admin burden on businesses by £5.6 billion.
- Six months after the action plan was announced, £1.5bn gross savings have already been identified.
- Legislative changes will lift up to 51,000 companies from unnecessary reporting obligations and remove the requirement for Directors’ Reports for all companies required to produce one.
- Approximately 440,000 companies will no longer need to compile a Directors’ Report.
- A broad consultation on modernising corporate reporting will be delivered in 2026.