The Chancellor, John Healey, has put a figure on his pledge to cut costs for business. PA reports that he plans to remove about £800m of "form-filling and pointless paperwork" for firms ahead of the Budget on 28 October.
The first named measure is an extension of tariff suspensions on more than 250 products. They cover sectors including chemicals, plastics, automotive, and food and beverages. They were due to expire at the end of December and will now run for another year. The Treasury says this will save businesses up to £155m.
The rest of the measures will be set out in the Budget, according to PA. The £800m total comes from the Treasury and has not been independently checked. Only £155m of it is accounted for by a named policy so far.
In his interview with the Times on Wednesday, Healey promised to back entrepreneurs and cut regulation but did not confirm any specific measure. Today's announcement is the first.
Healey and the Prime Minister, Andy Burnham, are due to meet small business leaders at No 10 North on Friday 23 October, LBC reports.