Business Secretary Kemi Badenoch plans to announce post-Brexit reforms to cut red tape for medium-sized businesses, saving firms around £150m annually.

Business Secretary Kemi Badenoch plans to announce post-Brexit reforms to cut red tape for medium-sized businesses, saving firms around £150m annually. The changes will exempt medium-sized firms from producing annual strategic reports and increase the employee threshold for a company to be classified as large, from 250 to 375. Approximately 5,000 businesses may benefit from these reforms, set to be discussed in a consultation later this year.

March 18, 2024
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