Chancellor promises to cut red tape - papers 18th Oct

In a pledge ahead of today's financial services summit at No 11 Downing Street, Gordon Brown argued he wants to free British companies from red tape. Brown, who is keen to ensure the City is "on side" ahead of his possible premiership once Tony Blair stands down, will also make a pledge to freeze business taxes. The paper reports Brown as saying: "At all times we will promote a risk-based approach to regulation in areas where the Treasury is directly responsible, such as asset freezing." In a bid to cut regulation further, he is also set to ask the Financial Services Authority to look...