The Government has pledged to cut the number of quangos and slash the cost of regulation by 25%.
Chancellor Rachel Reeves summoned regulators to Downing Street to discuss cutting red tape and boosting economic growth. Plans include reducing regulatory costs by a quarter, abolishing some regulators (including the Regulator for Community Interest Companies), and implementing 60 measures agreed upon by regulators. The government aims to streamline legal duties of financial and infrastructure regulators. Opposition and environmental groups have criticized the plan.
