ACCA welcome the committee’s focus on ensuring the government’s Regulatory Action Plan delivers on its vision of re-energising the regulatory system. As the Plan rightly notes, this requires the careful balancing of safeguards and protections. We believe that proportionate and effective regulation is crucially important, supporting both the public interest and the reputation of the UK. ACCA has over 100,000 members working in accountancy and finance roles up and down the country. From the corporate sector and financial services to public practice and the public sector, our professionals work in all parts of the economy. As trusted advisors to business, they observe firsthand how duplicate processes and obligations create complexity and reduce confidence.

We support the Government’s growth focus, likewise the need for clarity on what it means in practice. ACCA reaffirms how, in the current environment, the cumulative burden of regulation often poses the greatest difficulty to business. The byproduct is making it that much harder for businesses to plan and forecast with certainty. Such sentiment is reflected in ACCA member feedback following the 2025 Budget, where 80% viewed the announced measures negatively.

Regarding ACCA’s efforts to support growth, we continue to evolve on several fronts. This includes changing our qualification in response to the needs of employers, current and future members. In a fast-changing world, accountants are increasingly looked to for guidance beyond day-to-day financial management. Through our body of research and insights, we continue to highlight the transformative impact of accountants on the revenue of small and mid-sized businesses (SMBs). When considering the government’s Action Plan against the broader environment, the focus must be on measures that allow business to grow and prosper.

To read ACCA’s complete comments, please download the document found on this page.