Showing posts with label laws and regulations. Show all posts
Showing posts with label laws and regulations. Show all posts

FG Implements E-Visa Automation on May 1st: Interior & Aviation Ministries Unite for Enhanced National Security

ABUJA The federal government, via the Ministry of Interior along with the Ministries of Aviation and Aerospace Development, has established May 1st as the start date for implementing the new policies related to E-Visas, automated landing cards, and departure card digitization across the nation.

On Wednesday, during a joint inter-ministerial press briefing in Abuja, both ministers—the Minister of Internal Affairs, Dr. Olubunmi Tunji-Ojo, and the Minister for Aviation and Aerospace Development, Festus Keyamo—revealed that their collaborative efforts, particularly with the implementation of the Advanced Passenger Information System and e-gate solutions, resulted in the apprehension of several blacklisted foreign nationals who were subsequently turned over to INTERPOL.

Providing clarity, Ojo-Olujimi expressed his gratitude to the Ministry of Aviation and mentioned that both parties have concurred on establishing a joint task force. This team will work towards ensuring the successful implementation of the E-Visa system as well as the automated processing of landing and departure cards.

The program commences on May 1, 2025, with an additional three-month grace period before the comprehensive enforcement and execution begin on August 1.

There will be an amnesty allowing individuals with visa overstay issues or those who have violated immigration laws to step forward and legalize their status by reporting to the immigration offices.

Following the implementation of the AP system, we faced another challenge with the E-Gate. We extend our gratitude to FAAN, who serves as our landlord, for their assistance. Currently, both our facilities in Lagos and at the Abuja airport boast fully operational E-Gates, providing convenience for Nigerians while enhancing border security even further. Today, we gather to address the next phase—introducing the E-Visa alongside an automated landing and departure card process.

We recognize that previously, we've used exit and landing cards in a traditional manner, where individuals needed to complete paper forms. However, considering that Nigeria is home to 230 million exceptional people, it’s essential for us to be at the forefront of technological advancement. Therefore, we plan to automate these processes starting May 1, 2025.

He went on to say that the landing and exit cards, which are complimentary, must be completed online prior to your departure and shown to airline staff as part of the boarding process.

Beyond this, we will implement additional measures that we can clarify further at a later time. We've also concurred that the Electronic Visa will simplify entry into Nigeria while improving national security. Naturally, these applications will be submitted online.

“There is a centralized visa approval centre already at Nigera Immigration Headquarters. Officers have been trained, well-equipped, and solution-integrated to all major criminal record systems in the world, Interpol and the rest. And of course, there will be better background check in terms of people coming into Nigeria.”

“We are also looking at removing bottlenecks and also making sure people can get visas to Nigeria without lobbying anybody to come into Nigeria. We want to open our borders without compromising national security for people to come and explore the beauty of the land called Nigeria,” he stated.

On his part, Keyamo assured that the automation will be seamless.

What the entry and exit card signify, along with what my brother is explaining, is that upon arriving in the country, you fill out an entry form online. This process is automated. Therefore, once they enter your passport number into the system, all relevant information appears instantly—such as the date of your arrival, the type of visa used for entry, and the duration of your authorized stay.

The system recognizes it immediately, retrieves it, and proceeds. As you depart from your home country, the initial point you reach at the border exit is typically the check-in counter of a private airline. This is where the NCA becomes relevant.

When returning to your home country as a foreigner, they might ask for your exit card. This is their top priority. Without it, you won’t receive a boarding pass. Once you complete your exit card and input your passport number, information such as when you entered the country appears. Details like where you received entry stamps and for how long become visible. If these records show an overstay, following the protocols set by the NCAA, the airline will deny boarding and direct you to immigration authorities.

What we are accomplishing today serves as another proof of this government’s commitment to encourage collaboration among major ministries with overlapping responsibilities.

"The aviation ministry and the interior ministry, since day one, have made a decision to work together collaboratively, and we've been accomplishing this without interruption," he declared.

Provided by Syndigate Media Inc. ( Syndigate.info ).

Ohio's New Child Grooming Law Officially Takes Effect, Cracking Down on Sexual Abuse

CINCINNATI (WKRC) — A new legislation has been enacted that prohibits The law aimed at protecting children from sexual predators goes into effect in Ohio on Wednesday.

The law was enacted after the case involving Father Geoff Drew. A ex-priest who was found guilty in 2021 for sexually assaulting a young boy when he worked as a music minister at Saint Jude Parish located in Green Township. For many years, Drew has faced accusations of grooming children, however, no charges were brought against him for this behavior because Ohio did not have explicit statutes addressing grooming at that time.

The new law classifies grooming as a misdemeanor, with the potential for felony charges for repeat offenders or if the child is under 13 years old.

Trump Exempts Dozens of Coal Plants From Tougher Pollution Rules

On Tuesday, President Trump exempted numerous coal plants from a regulation implemented by Biden that imposes stricter standards For mercury, lead, nickel, and arsenic emissions.

Trump declared the exemption as part of multiple steps he implemented to support the coal sector.

"As part of our significant deregulatory initiatives, today I am providing instant assistance to 47 companies managing 66 large-scale coal plants spread across the nation," he stated.

He stated that the limitations from the Biden era made it "practically impossible to undertake any actions related, honestly, to energy."

Contact with these contaminants increases the likelihood of developmental delays in kids, along with raising the risks of heart attacks and cancer.

The action follows the EPA’s temporary set up an email gateway for those who pollute to seek presidential waivers from multiple rules that it plans to roll back .

Furthermore, the Trump administration committed to utilizing the Justice Department to target states with regulations or policies that restrict coal production and hinder their implementation.

A directive from an executive order instructs the attorney general to focus on legislation connected to climate change, environmental, social, and governance issues, environmental equity, reductions in greenhouse gases, as well as statutes involving carbon levies or sanctions.

“I’m instructing the Department of Justice to identify and fight every single unconstitutional state or local regulation that’s putting our coal miners out of business,” Trump said.

The additional steps the Trump administration implemented to support the coal industry incorporate initiatives to exempt coal mining projects from environmental assessments, eliminate limitations on coal mining on federal territories, and mandate the Department of Energy to utilize funds for advancing coal technologies.

Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

To stay updated with the most recent news, weather forecasts, sports updates, and live streams, visit CBS 42.

Vietnam Considers Dual Citizenship in Revised Law

Vietnam may soon allow dual citizenship and ease citizenship rules for foreigners under proposed changes to its nationality law, according to a new draft by the Ministry of Justice.

The proposed amendment to the Law on Vietnamese Nationality introduces special circumstances where individuals could hold Vietnamese citizenship along with another nationality.

Such exceptions would be determined by the Vietnamese government. Currently, Vietnam allows only single nationality, mandating citizens to relinquish foreign citizenship upon obtaining Vietnamese nationality, except in certain cases.

Additionally, certain groups could bypass existing requirements such as language proficiency, minimum residency duration and financial independence to acquire Vietnamese citizenship.

Qualifying categories encompass people with Vietnamese citizen parents or grandparents, as well as those foreign nationals who have significantly aided Vietnam’s progress and safety.

Minors who have at least one Vietnamese parent would no longer require "full legal capacity" to be eligible for citizenship.

This amendment aims to streamline the procedure for previous Vietnamese nationals looking to regain their citizenship. It eliminates present limitations that mainly restrict nationality reinstatement to people with family connections in Vietnam, as well as investors or those who have notably advanced the nation’s development or safety. Additionally, it covers individuals who formerly gave up their Vietnamese nationality without successfully acquiring another citizenship.

The Ministry of Justice stated that this step is aligned with global practices, as numerous nations currently permit multiple citizenships, which could encourage previous citizens to reinstate their connection with Vietnam.

By March, Vietnam had restored citizenship to 311 individuals and naturalized 7,014 applicants as Vietnamese nationals. Interestingly, 60 people maintained their initial foreign nationalities after obtaining Vietnamese citizenship.

Why the Decision on a Northern Metropolitan Authority Can't Be Rushed: An International Perspective

The success depends entirely on how well it is executed. Comprehensive public consultations will guarantee that any such authority addresses both economic and societal requirements.

Hong Kong's budget suggests speeding up the development of the Northern Metropolis Several individuals have proposed an Northern Metropolis development authority be set up, suggesting that strong top-tier guidance might accelerate the process.

But how exactly would such an authority expedite development? What considerations are involved? More importantly, how would it attract investment and address funding shortages in an era of geopolitical tensions and economic downturns?

In recent years, the government has streamlined bureaucracy and relaxed regulations, reducing unnecessary procedures and offering greater flexibility . These have helped to shorten project timelines .

Do you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge , our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team.

But the Northern Metropolis is a massive undertaking involving multiple policy bureaus. For instance, the Innovation, Technology and Industry Bureau is tasked with charting the course for innovation and technology development, as well as identifying the land needs. Meanwhile, the Development Bureau prepares the land and the Transport and Logistics Bureau provides transport infrastructure.

From conception to implementation, such projects still often take over a decade. In a fast-changing world where technology evolves rapidly, if bureaus continue to operate in silos - making decisions independently before passing the project along - the development risks becoming outdated even before the work begins.

Creating a development authority as a statutory entity might solve this issue. This organization would manage the planning, designing, constructing, and operating of initiatives within the Northern Metropolis, thereby reducing unnecessary procedures. Aligning transportation infrastructure with the schedule for developing these areas could enable the timely unlocking of land value, which in turn could enhance investors' trust.

A standalone development agency might provide the government more financial leeway as well. Conventionally, financing for major infrastructure projects depends on legislative body approvals, private-public collaborations, or appropriations. bond issuance . A fresh organization paves the way for alternate methods of raising capital.

For instance, the administration might provide land and a share of forthcoming taxes from the Northern Metropolis to the governing body in return for holding control over the equity. The leftover stakes could then be made available internationally, drawing long-term investment from Mainland China as well. Belt and Road Initiative Countries. By including particular clauses, the government could ensure a majority on the board, maintaining control over decisions.

The development agency has the option to lease land and infrastructure as needed for practical purposes or collaborate with strategic allies. Managed by experts adhering to market-driven practices, this entity will operate autonomously, facing its financial gains or losses independently. Such measures aim to boost operational effectiveness and reinforce market trust within the Northern Metropolis.

The government might find guidance in the creation of Hong Kong. Airport Authority This entity is overseen by the Airport Authority Ordinance. As a fully government-owned statutory organization, it operates with commercial objectives, mainly producing income through service charges at Hong Kong International Airport.

According to Section 5(2) of the ordinance, the Airport Authority has the ability to undertake commercial or industrial ventures on leasehold lands within airports with the aim of generating profits. This approach might also be applied to a potential Northern Metropolis development agency, enabling such an entity to produce earnings through the creation and management of infrastructure and businesses.

Another example is Singapore's Sentosa Development Corporation Established as a statutory body under the Ministry of Trade and Industry, SDC was tasked with developing Sentosa Island. Serving as the master planner, SDC’s mandate includes overseeing the planning, operation, and promotion of Sentosa as a resort destination catering to both residents and visitors. Additionally, business units were set up to handle the day-to-day running of the island.

However, the magnitude of the Northern Metropolis would exceed that of Hong Kong’s airport and Singapore’s Sentosa Island, featuring an immensely varied and intricate array of elements requiring thorough consideration. Initially, the development agency needs to function under current legal guidelines and bureaucratic setups to prevent clashes or redundant configurations. The intricacy involved in merging this project into pre-existing infrastructures might slow down its advancement instead of accelerating it unless managed with great precision.

Furthermore, the administration will have to activate the Land Resumption Ordinance To obtain private property for the Northern Metropolis. However, should this land fall under a commercial development agency, it might fail to meet the ordinance’s “public purpose” criterion. There is public doubt regarding land acquisition and possible favoritism, which could diminish confidence in the project even more.

The Northern Metropolis isn't solely for innovation, commerce and industry - it also encompasses housing, social welfare and environmental conservation. A commercial approach risks sidelining public welfare and environmental needs.

Without robust oversight, a profit-oriented authority might prioritise revenue-generating projects such as commercial hubs over affordable housing or green spaces, exacerbating social inequalities.

Ultimately, whether a Northern Metropolis development authority is a boon or bane hinges on the execution. This is not a decision to be rushed. Presenting detailed proposals to the public can foster debate and ensure the Northern Metropolis serves both economic ambitions and society's needs. Only through such scrutiny can Hong Kong maximise the benefits of this transformative project while mitigating its risks.

More Articles from SCMP

The house bill limiting collaborations between U.S. and Chinese universities is progressing, with Democrats remaining quiet.

China’s commitment to neighboring countries, exporters offloading goods mid-journey: SCMP Daily Highlights

TikTok Shop highlights potential issues in the U.S., encourages expansion into the European market as Trump increases duties on smaller packages threefold.

China's CATL maintains confidence in Hong Kong with intentions to list this quarter, according to sources.

The article initially appeared on the South China Morning Post (www.scmp.com), which is the premier source for news coverage of China and Asia.

Copyright © 2025. South ChinaMorning Post Publishers Ltd. All rights reserved.

Brazilian court authorizes crypto seizure for debt collection — Report

Judges in Brazil now have permission to confiscate cryptocurrency holdings from individuals who owe debts and are delinquent in their payments. This move indicates an increasing acknowledgment that virtual currencies serve as both a means of settlement and a repository for wealth.

According to local media reports The Third Panel of Brazil’s Superior Tribunal de Justiça has unanimously approved a measure allowing judges to issue letters to cryptocurrency exchanges. These letters will notify the exchanges of the intention to freeze an individual's assets in order to compensate their creditors.

The report was validated by the Superior Court of Justice, which posted an announcement on its website.

The unanimous decision was made by the Third Panel after they examined a case presented by a creditor.

“Although they are not legal tender, crypto assets can be used as a form of payment and as a store of value,” a translated version of the Superior Court of Justice’s memo read.

According to current regulations, Brazilian judges have the authority to freeze bank accounts and initiate fund transfers, even without informing the debtor, if they determine that a creditor is entitled to payment.

After the latest ruling, cryptoassets now come under the same jurisdiction.

Minister Ricardo Villas Bôas Cueva, part of the five-member committee, stated during the voting process that cryptocurrencies remain unregulated in Brazil. However, he acknowledged that some proposed bills have categorized these assets as "a digital representation of value."

Related: Brazil’s data watchdog upholds ban on World crypto payments

Even with regulatory ambiguity, Brazil stands as a key center for cryptocurrency.

Even though Brazil doesn’t yet have a comprehensive regulatory framework for digital assets, the nation’s central bank is involved. divvying up The regulatory procedures have been divided into stages, leading to a rapid increase in cryptocurrency adoption nationwide.

According to a report released in October by Chainalysis, Brazil stands as the second-highest country in Latin America regarding "crypto value received," making it a significant indicator of adoption.

earlier this year, the cryptocurrency exchange Binance was given permission to function within the nation following its acquisition of a São Paulo-based investment firm.

A representative from Binance informed Cointelegraph back then that Brazil was advancing "substantial progress" towards regulating the sector and anticipated a complete regulatory structure would be completed "by the middle of this year."

However, not all of Brazil’s proposed regulations have been beneficial for the industry.

In December, the nation's principal banking institution proposed banning stablecoin transactions On self-managed wallets as more residents started utilizing dollar-linked tokens to protect themselves from the depreciation of the Brazilian real.

Industry analysts informed Cointelegraph at the time that implementing such a ban would likely be challenging to execute.

Centralized exchanges may be regulated by governments, yet peer-to-peer transactions and decentralized platforms pose greater challenges for oversight," noted Lucien Bourdon, an analyst at Trezor. "This suggests that such bans might impact just a segment of the overall system.

Related: Brazilian legislator proposes bill for regulating bitcoin-based payrolls

UAE Crown Prince Issues Landmark Resolution to Oversee Free Zone Operations Beyond Designated Areas

DUBAI, 17th March, 2025 (WAM) — As the Chairman of The Executive Council of Dubai, H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, who serves as the Crown Prince of Dubai, Deputy Prime Minister, and Minister of Defence, has issued Executive Council Resolution Number (11) for the year 2025. This resolution aims to regulate the functioning of enterprises located within the free zones across Dubai.

The provisions of this resolution pertain to entities aiming to function beyond the boundaries of the free zones, excluding those financial institutions authorized to work inside the Dubai International Financial Centre. These guidelines are consistent with the objectives of the Dubai Economic Agenda, D33, which aims to expand Dubai’s economy twofold over ten years leading up to 2033 and solidify its standing as one of the globe’s premier three economic hubs.

As per the resolution, companies or institutions authorized by a pertinent free zone entity have permission to function beyond the confines of their respective free zones and inside Dubai. This is provided they secure the required licenses or permissions from the Dubai Department of Economy and Tourism (DET).

The newest resolution represents a major step forward in improving the commercial environment, allowing companies within Free Zones to easily extend their activities from free zones into the broader territory of Dubai.

This effort syncs up with the city's bold D33 Agenda aimed at fostering an energetic commercial landscape under its forward-thinking guidance. The aim is to enhance the competitive edge of Dubai’s flourishing business community and boost operational efficiencies for both domestic and international enterprises. These goals receive additional backing from Dubai’s supportive atmosphere, marked by ongoing endeavors to streamline commerce within the emirate, uphold pro-business policies widely acknowledged as favorable, and currently offering Free Zone entities the capacity to effortlessly merge operations with those on the mainland.

The latest resolution underscores Dubai’s commitment to bolstering enterprises and stimulating expansion. It promotes heightened commercial engagement, employment opportunities, and inventive ideas, establishing the emirate as a focal point for commerce, finance, and enterprise. This advanced measure clearly communicates to international entrepreneurs that Dubai serves not only as an attractive locale for investments but also acts as a visionary collaborator dedicated to cultivating innovative aspirations and advancing enduring progress.

As per the resolution, businesses are required to comply with all relevant federal and local laws pertaining to their operations and keep distinct financial records for activities carried out outside the free zone, distinctly separated from those inside the free zone.

Furthermore, if these businesses intend to function beyond the boundaries of the Emirate of Dubai, they are obligated to obtain the necessary licenses and permissions from the pertinent regulatory bodies in the area where they aim to conduct their operations, adhering strictly to the local rules and guidelines.

According to the resolution, DET is authorized to grant an establishment the permission to operate outside the free zone and within the Emirate of Dubai by issuing a licence for establishing a branch within the emirate or issuing a licence for a branch with its headquarters in the free zone. These licences are valid for one year and can be renewed. Additionally, permits may be issued for specific activities within the emirate.

The resolution also outlines the requirements for licensing a branch within the emirate of Dubai or within any other free zone in Dubai. It also details the procedures for issuing activity permits and the conditions for employing the establishment’s workforce.

According to the resolution, DET, in coordination with the licensing authority, is required to issue a list of economic activities that establishments can conduct in Dubai within six months, depending on whether they hold a branch licence in the emirate, a branch with headquarters in the free zone, or a permit for specific activities.

Any establishment licensed to operate in the emirate under this resolution is subject to inspection according to relevant federal and local laws; in addition to the procedures agreed upon between the DET and the licensing authority.

All establishments operating outside the free zone and within the Emirate of Dubai when this resolution takes effect must comply with its provisions within one year from its effective date. If needed, the Director General of the DET may extend this period for an additional year.

This resolution annuls any other resolution that conflicts with it, and will be effective from the date of its publication in the Official Gazette.

Provided by SyndiGate Media Inc. ( Syndigate.info ).

UAE Crown Prince Issues Landmark Resolution to Oversee Free Zone Operations Beyond Designated Areas

DUBAI, 17th March, 2025 (WAM) — As the Chairman of The Executive Council of Dubai, H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, who serves as the Crown Prince of Dubai, Deputy Prime Minister, and Minister of Defence, has issued Executive Council Resolution Number (11) for the year 2025. This resolution aims to regulate the functioning of enterprises located within the free zones across Dubai.

The provisions of this resolution pertain to entities aiming to function beyond the boundaries of the free zones, excluding those financial institutions authorized to work inside the Dubai International Financial Centre. These guidelines are consistent with the objectives of the Dubai Economic Agenda, D33, which aims to expand Dubai’s economy twofold over ten years leading up to 2033 and solidify its standing as one of the globe’s premier three economic hubs.

As per the resolution, companies or institutions authorized by a pertinent free zone entity have permission to function beyond the confines of their respective free zones and inside Dubai. This is provided they secure the required licenses or permissions from the Dubai Department of Economy and Tourism (DET).

The newest resolution represents a major step forward in improving the commercial environment, allowing companies within Free Zones to easily extend their activities from free zones into the broader territory of Dubai.

This effort syncs up with the city's bold D33 Agenda aimed at fostering an energetic commercial landscape under its forward-thinking guidance. The aim is to enhance the competitive edge of Dubai’s flourishing business community and boost operational efficiencies for both domestic and international enterprises. These goals receive additional backing from Dubai’s supportive atmosphere, marked by ongoing endeavors to streamline commerce within the emirate, uphold pro-business policies widely acknowledged as favorable, and currently offering Free Zone entities the capacity to effortlessly merge operations with those on the mainland.

The latest resolution underscores Dubai’s commitment to bolstering enterprises and stimulating expansion. It promotes heightened commercial engagement, employment opportunities, and inventive ideas, establishing the emirate as a focal point for commerce, finance, and enterprise. This advanced measure clearly communicates to international entrepreneurs that Dubai serves not only as an attractive locale for investments but also acts as a visionary collaborator dedicated to cultivating innovative aspirations and advancing enduring progress.

As per the resolution, businesses are required to comply with all relevant federal and local laws pertaining to their operations and keep distinct financial records for activities carried out outside the free zone, distinctly separated from those inside the free zone.

Furthermore, if these businesses intend to function beyond the boundaries of the Emirate of Dubai, they are obligated to obtain the necessary licenses and permissions from the pertinent regulatory bodies in the area where they aim to conduct their operations, adhering strictly to the local rules and guidelines.

According to the resolution, DET is authorized to grant an establishment the permission to operate outside the free zone and within the Emirate of Dubai by issuing a licence for establishing a branch within the emirate or issuing a licence for a branch with its headquarters in the free zone. These licences are valid for one year and can be renewed. Additionally, permits may be issued for specific activities within the emirate.

The resolution also outlines the requirements for licensing a branch within the emirate of Dubai or within any other free zone in Dubai. It also details the procedures for issuing activity permits and the conditions for employing the establishment’s workforce.

According to the resolution, DET, in coordination with the licensing authority, is required to issue a list of economic activities that establishments can conduct in Dubai within six months, depending on whether they hold a branch licence in the emirate, a branch with headquarters in the free zone, or a permit for specific activities.

Any establishment licensed to operate in the emirate under this resolution is subject to inspection according to relevant federal and local laws; in addition to the procedures agreed upon between the DET and the licensing authority.

All establishments operating outside the free zone and within the Emirate of Dubai when this resolution takes effect must comply with its provisions within one year from its effective date. If needed, the Director General of the DET may extend this period for an additional year.

This resolution annuls any other resolution that conflicts with it, and will be effective from the date of its publication in the Official Gazette.

Provided by SyndiGate Media Inc. ( Syndigate.info ).

Reeves Unveils New Regulatory Slash to Spur Economic Growth

Rachel Reeves is preparing to axe a significant number of regulators, as the government continues its war on red tape .

It comes as part of an attempt to kickstart economic growth and “free businesses from the shackles of regulation”, the chancellor said.

Regulators have been summoned to Downing Street On Monday, there’s a meeting with Ms Reeves during which she is anticipated to provide further details about the government’s plan to reduce the cost of regulations by 25% and outline strategies for either downsizing or eliminating these regulatory entities altogether.

The meeting follows the the announcement last week that NHS England – known as the world’s biggest quasi-autonomous non-governmental organization (quango) – would be abolished as part of initiatives to reduce expenses and stimulate economic development.

Ms Reeves stated: "Today we are implementing additional measures to liberate businesses from the constraints of red tape."

Through reducing bureaucratic regulations and establishing a more efficient system, we aim to increase investments, generate employment opportunities, and add more funds to the wallets of working individuals.

Along with scrapping NHS England, the government has also declared intentions to integrate the Payment Systems Regulator into the Financial Conduct Authority (FCA), and Ms Reeves is anticipated to pledge to eliminate several regulators throughout the parliamentary term.

On Monday, she will announce the abolition of a third quango – the Regulator for Community Interest Companies, which will be folded into Companies House – and ministers will be instructed to report back to the chancellor by the summer with further suggestions for quangos that could be culled.

It is anticipated that the government will eliminate a considerable amount of regulators; however, the exact figure of those set to be removed remains unconfirmed as of now.

The gathering will see eight regulatory bodies represented, among which are the FCA, the Environment Agency, Natural England, and the Health and Safety Executive.

The chancellor plans to reveal at Monday’s meeting a set of 60 initiatives that Britain’s regulatory bodies have consented to implement in order to stimulate economic expansion.

This encompasses expediting the approval of new medications, reassessing the £100 cap on contactless transactions, streamlining mortgage regulations, and conducting two significant drone operation trials to facilitate future drone delivery services.

These measures came about following a request from the prime minister towards the end of last year for regulators to produce "specific suggestions" aimed at stimulating growth, as part of the government's efforts to revitalize Britain’s faltering economy.

Despite the UK evading a recession during the latter part of 2024, economic performance remains sluggish with data from last week indicating a 0.1 percent decrease in GDP for January.

Several modifications, especially those concerning environmental rules, are anticipated to accelerate the completion of significant infrastructural initiatives like the much-delayed Lower Thames Tunnel and the proposed third runway at Heathrow Airport.

Rain Newton-Smith, CEO of the CBI, greeted the announcements positively, stating: "TheUK's complex web of regulations impedes investment due to excessively high compliance costs, putting us behind international competitors."

Today’s declaration marks a move towards a more balanced, outcome-focused strategy that aims to foster more enduring development and investments.

However, Conservative shadow chancellor Mel Stride stated that Ms Reeves along with "her budget that destroys jobs and raises taxes" was "the greatest obstacle to growth" in the UK.

He stated: "As long as companies continue to feel the pressure from Labour's taxation policies and the bureaucratic burden imposed by trade unions, their ability to concentrate on fostering growth will be hindered."

Whether it’s from news to politics, travel to sports, culture to climate – The Independent offers a range of free newsletters tailored to your preferences. To get the stories you're interested in delivered directly to your inbox along with additional content, simply click. here .