Chancellor Rachel Reeves is preparing a major plan to cut unnecessary business regulations, promising savings of £6 billion for companies across the United Kingdom. The announcement comes as part of the government’s effort to simplify rules, reduce paperwork, and support small firms struggling with growing costs. Reeves will unveil her “blitz on business bureaucracy” at the government’s first regional investment summit in Birmingham, where she is expected to tell business leaders that the government will “cut pointless admin.” The move is designed to show that the government is listening to business concerns as it works to revive the economy ahead of the November budget. Among the first steps, Reeves plans to scrap the rule that requires directors of small firms to file a directors’ report with Companies House. The Treasury said this change alone will help more than 100,000 small businesses, including microbreweries, local shops, and family-run cafes. By simplifying procedures and reducing red tape, officials hope to free up time and resources for business owners to focus on growth and innovation. The plan comes as the chancellor faces growing pressure from company leaders worried about possible tax increases in next month’s budget. Reeves has signaled that any tax rises will be aimed at those “with the broadest shoulders,” suggesting that large corporations and high-income earners may face higher contributions. Government sources said the chancellor is balancing the need for responsible fiscal policy with the goal of maintaining business confidence. Reeves is expected to introduce a combination of tax increases and spending cuts to meet her fiscal targets, as the Office for Budget Responsibility (OBR) prepares to downgrade its growth forecasts. The OBR’s upcoming report is likely to show weaker productivity and rising borrowing costs, creating a challenge for the government’s budget plans. To counter this, Reeves intends to highlight productivity as a central theme of her reforms. By reducing administrative burdens, the Treasury hopes to save businesses nearly £6 billion each year by the end of the parliamentary term. The idea is that by cutting paperwork and delays, companies can reinvest their time and resources into expansion, innovation, and hiring. In her speech to more than 350 business leaders, investors, and regional mayors, Reeves will outline the government’s strategy for investment and growth. She is expected to say that Labour’s mission is to “create the right environment for investment through regulatory reforms, crowd in capital through public financial institutions, and support innovation throughout the UK.” The Treasury said Reeves will also announce new regional funding, with “millions more” to be invested in local projects to strengthen the UK’s economic base. The event at Birmingham’s Edgbaston cricket ground will bring together top investors, including representatives from AustralianSuper, HSBC, and private equity firm KKR. Ministers are expected to use the event to highlight £10 billion of new private investment into the UK economy. A large portion of this figure comes from a £6.5 billion pledge by Welltower, a U.S.-based property investment company that operates care homes across the country. The investment will create thousands of new care home beds in a sector that has faced increasing demand and funding challenges. Welltower’s investment follows its 2024 acquisition of Care UK, one of Britain’s largest care home operators. The deal underscored a growing interest from private providers seeking greater involvement in the healthcare system. For Reeves, the summit offers an opportunity to showcase Labour’s approach to economic management: pragmatic, business-focused, and supportive of regional development. By combining business bureaucracy cuts with targeted investments, the government aims to demonstrate that it can promote growth while maintaining fiscal discipline. As the budget date approaches, the chancellor faces high expectations to deliver measures that boost confidence, encourage investment, and protect jobs. Her plan to simplify business rules is a clear signal that the government wants to partner with companies to build a stronger and more competitive economy.