Business

Government slashes red tape and tariffs to give businesses breathing space

HM Treasury·Oct 23, 2026 · 12:00 AM CT
Read the original at HM Treasury
Readthrough summary

The UK government says new measures to cut paperwork and form-filling, plus extended tariff suspensions, will save British businesses almost £800 million. The plans, some developed with small businesses, were announced as the Prime Minister and Business Secretary met small-business leaders ahead of next week's Budget.

Summary written by Readthrough from the original article. The full story, with photos and any updates, is at HM Treasury.

Read the original at HM Treasury

More Business

CNBC·

Volvo Cars plunges 27% as CEO says China sales slump came 'faster than we thought'

Volvo Cars shares fell about 27% after the automaker reported a third-quarter operating loss of 5.6 billion kronor (about $564 million) and said it will cut 2,500 jobs. CEO Håkan Samuelsson said the China sales slump came "faster than we thought," as Chinese buyers turn to domestic brands, and that the company needs a new, more regional strategy there.

Bank of England·

Regulators unveil plans to simplify Senior Manager and Certification Regime

The UK's Prudential Regulation Authority and Financial Conduct Authority opened parallel consultations on streamlining the 10-year-old Senior Managers and Certification Regime. Far fewer financial-services roles would need enhanced regulator checks, saving firms an estimated £2 billion over 10 years, while accountability standards stay the same.

HM Treasury·

PM puts communities first in government investment rules shake up

The UK Prime Minister confirmed plans to reform the Treasury's Green Book, the official framework for judging spending projects, at next week's Budget. Projects in the same area would be assessed together rather than one by one, which the government says will help overlooked places make the case for investment.

CNBC·

Nvidia's Huang heads to Kazakhstan for the first time — and he's not the only one with big plans

Nvidia CEO Jensen Huang made his first visit to Kazakhstan, saying the country could become "an AI factory hub for all of Europe" thanks to its energy resources and data-center plans. Speaking with Kazakhstan's AI minister Zhaslan Madiyev in Astana, Huang also argued that nations should build their own AI infrastructure. Several other Big Tech firms are also eyeing the country.