Regulatory fees for British chemicals sector slashed
New legislation to cut UK REACH costs for chemical businesses comes into force as part of 바카라 사이트바카라 사이트™s Plan for Change
New legislation coming into force today (Tuesday 1 April) will slash regulatory burdens on the chemicals industry 바카라 사이트“ saving businesses £40 million over the next six years.
The move as part of the 바카라 사이트바카라 사이트™s Plan for Change means nearly all current fees and charges for chemical businesses are going down. Changes are expected to lead to a total reduction of costs by £40 million for businesses across the next six years 바카라 사이트“ from 2025/26 to 2030/31.
Included in the changes is a new standard registration fee of £2,222, which will mean a significant reduction to the cost of registration for 92% of firms. Alongside this, the continuation of the small and medium enterprise discounts and a reduction in legal identity changes will ensure the chemicals industry is fairly regulated and remains competitive.
This will relieve the UK바카라 사이트™s chemicals industry of unnecessary cost burdens, create conditions for them to invest in new infrastructure and delivering growth for the sector.
Environment Minister Emma Hardy said:
The UK chemicals sector is world-leading but has faced a range of challenges in recent years, including high regulatory costs.
As part of Plan for Change, we바카라 사이트™re reducing UK REACH fees by £40 million over the next six years, helping businesses continue to deliver growth in this vital sector.
UK REACH is the regulatory regime that applies to many chemical substances that are manufactured or imported into the Great Britain. It exists to provide a high level of protection of human health and the environment when chemicals are used.
To ensure UK REACH is enforced effectively, chemical businesses pay fees to recover the cost of the services provided. The new charges will ensure businesses pay for what they get.
The 바카라 사이트 is committed to protecting human health and the environment from the risks posed by chemicals. This includes reshaping the UK REACH Work Programme in future years to ensure it delivers the 바카라 사이트바카라 사이트™s ambitions, while also setting out a clear direction of travel to support businesses and the chemicals industry, taking account of UK REACH바카라 사이트™s relationship with regulation in the EU.