Criticised by unions as measures to potentially curb UK workers’ rights that were prescribed under European Union membership, the proposed deregulation is intended to cut red tape for British businesses, possibly saving around £1bn per year. Wider effects on consumers, innovation and competition, along with direct costs, are also being considered under what the government called “post-Brexit regulatory freedoms”.

A government statement said: “We will reduce time-consuming and disproportionate reporting requirements for specific elements of the Working Time Regulations, while retaining the 48-hour week requirement and upholding our world-leading employment standards. This could save employers around £1bn a year.”

In a promise that could affect recruiters and other industry entrepreneurs, Badenoch added: “We are also simplifying regulations that apply when a business transfers to a new owner.”

Limiting the length of non-compete clauses to three months is another measure of special interest to recruiters.

“We are taking back control of our laws after Brexit,” Badenoch said, “reducing and improving regulation and giving businesses the freedom to do what they do best – sell innovative products, create jobs and grow the economy.”

Tina McKenzie, managing director of recruiter Staffline Ireland, is policy chair of the Federation of Small Businesses (FSB), and she said: “We are pleased to see a change of approach here, moving away from regulation as a first resort, alongside a reduction in administrative requirements that divert time away from running a business, and more of a focus for regulators on stimulating economic growth.”

McKenzie went on to say: “Our Retained EU Law Bill, which is currently passing through parliament, will end the special status of retained EU law (REUL) by the end of 2023 ensuring that, for the first time in a generation, the UK’s statute book will not include reference to the supremacy of EU law or EU legal principles.

“We have the unique opportunity to look again at these regulations and decide if they’re right for our economy, if we can scrap them, or if we can reform and improve them and help spur economic growth.

She added: “To ensure that [the UK] Government can focus on delivering more reform of REUL, to a faster timetable, we are amending the REUL Bill to be clear which laws we intend to revoke at the end of this year. This will also provide certainty to business by making clear which regulations will be removed from our statute book.

“We will retain the powers that allow us to continue to amend EU laws, so more complex regulation can still be revoked or reformed after proper assessment and consultation.

“The reforms we are announcing today are not just for central government, we will also provide a clear signal to our regulators that driving innovation, investment and growth should be at the heart of what our regulators do.”

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