HMRC is to carry out a review of its relationship with big business, while the Treasury has been tasked with significantly reducing companies' regulatory burden, chancellor Gordon Brown said today.
Writing in the 'Financial Times', Brown announced a new target to slash corporate red tape.
"At all times we promise a risk-based approach to regulation in areas where the Treasury is directly responsible, such as asset freezing," he said. "We are today announcing a target to reduce regulatory burdens by 25 per cent."
Brown also revealed he has commissioned a review of how the Revenue deals with big business. "Britain will maintain a competitive tax regime and a responsive tax administration and I have asked Sir David Varney to lead a review of HM Revenue and Custom links with big business," he sai...