Chancellor Gordon Brown has unveiled his plan to cut red tape in the business sector.

Brown is proposing a ‘risk- based’ approach to business regulation, whereby the chief burden of form filling and official inspections will focus on those businesses that are likely to break the law. Brown has pledged there will be one million fewer inspections every year along with a 25% reduction in form filling. The new government will legislate in the new year to reduce the current 29 regulatory bodies to just seven.