The report - Delivering Simplification Plans - outlined more than 280 government initiatives to tackle red tape.

Covering 19 departments and agencies, it argued that the UK Government is on target to hit its goal of saving business and the third sector over GBP3.5 billion in administrative costs by 2010.

Practical measures have included the removal of the need for companies to hold an AGM, a faster process for planning consents, halving of the number of health and safety forms employers have to complete, and cutting of redundant licenses in a range of sectors, according to the report.

Secretary of State for the Department for Business, Enterprise and Regulatory Reform John Hutton announced on Tuesday that:

"Today's plans demonstrate we are making significant headway on what is a difficult and challenging agenda. By tackling redundant regulation we are making a difference to the way people run their businesses and in their everyday lives."

He continued:

"But we are not complacent. Government must continue to back up its proposals with credible action across all sectors. We are also outlining ways to tackle our new target to cut public sector bureaucracy by 30% by 2010 in public sector."

According to the report, other key measures delivered included:

• Around 60,000 private companies no longer need to appoint a company secretary, saving each of them GBP50-GBP100 each a year. This gives a total of GBP450,000 annual savings
• 500,000 - 750,000 private companies no longer need to hold an AGM, as part of wider changes to company laws saving GBP45m a year in administration