New Brexit Freedoms Bill aims to cut £1bn of EU "red tape"

A new ‘Brexit Freedoms’ Bill will be brought forward by the government to mark the two-year anniversary of UK leaving the EU.

The Bill will make it easier to amend or remove ‘retained EU law’ - legacy EU law kept on the statute book after Brexit as a bridging measure – and will accompany a cross-government drive to reform, repeal and replace EU law.

According to the government, these reforms will cut £1bn of “red tape” for UK businesses, ease regulations and contribute to the government’s levelling up policy.

Prime Minister, Boris Johnson, said: “Getting Brexit Done two years ago today was a truly historic moment and the start of an exciting new chapter for our country. We have made huge strides since then to capitalise on our newfound freedoms and restore the UK’s status as a sovereign, independent country that can determine its own future.

“The plans we have set out today will further unleash the benefits of Brexit and ensure that businesses can spend more of their money investing, innovating and creating jobs.

“Our new Brexit Freedoms Bill will end the special status of EU law in our legal framework and ensure that we can more easily amend or remove outdated EU law in future”.

Alongside today’s announcement, a new policy document ‘The Benefits of Brexit: how the UK is taking advantage of leaving the EU’ will set out how the government is using new freedoms in different sectors to transform the UK into the best regulated economy in the world.

From artificial intelligence and gene editing to the future of transport and data protection, these reforms aim to create a “new pro-growth, high-standards” regulatory framework encouraging firms to innovate, invest and create jobs.

The government also aims to modernise vehicle standards, improving public procurement so that we can more easily exclude poorly performing suppliers and enhancing our public health system by reforming clinical trials and medical devices legislation.

With regards to business and industry the government hopes to establish a domestic subsidy control regime, allowing for more support to the UK economy, taking an “ambitious approach” in financial services areas previously regulated by the EU and simplifying reporting burdens for SMEs.