British environmentalists expressed shock on Monday after finance minister Gordon Brown announced the abolition of a requirement for large companies to report annually on their social and environmental performance. The measure was only passed in 2004 (EED 10/05/04). Mr Brown said the rule amounted to an unnecessary "goldplating" of EU legislation. Both Mr Brown on Monday and prime minister Tony Blair on Tuesday stressed the importance of reducing regulation on business. Britain's environment and industry ministries committed to reducing administrative burdens by 25%. See speech and NGO reaction. See also press releases from environment and industry ministries.
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