The government’s programme to slash red tape has succeeded in saving companies and citizens €2.5bn in unnecessary expenditure over four years, economic affairs minister Henk Kamp said on Thursday.

The coalition government pledged to reduce bureaucracy when it took office almost four years ago and the target has now been reached, Kamp said in a briefing to MPs.

‘When companies, professionals and private citizens experience less bureaucracy, it is easier to do business and set up new initiatives,’ Kamp said.

The €2.5bn saving is made up of lower costs and time savings. For example, the decision to remove paper copies of employer statements from mortgage applications has saved 500,000 hours a year, the minister said.

Changes to the vehicle registration system have saved €59m and small firms’ expenditure has been cut by €330m because they no longer have to put together extended annual accounts.