UK businesses could save £300 million a year under planned improvements to the way environmental information is required to be reported.

The changes are expected to save companies £1.5 billion over five years and are a pillar of the government’s commitment to reducing regulation through its Red Tape Challenge.

Measures include:

• Guidance on how to comply with environmental legislation will be much easier to follow, after being reduced by 80% in volume;

• Defra aims to reduce the time spent by businesses reporting information to the department and its regulatory bodies and agencies by 20%, saving business some 850,000 working hours by April 2016; and

• The department and its nine agencies, which include the Environment Agency and Marine Management Organisation, plan to consolidate legislation, reducing the overall number of regulations by 20% since 2011.

Secretary of state for the environment, food and rural affairs Owen Paterson said: “I am determined to see less regulation but better regulation – the same high standards, but rules that are much clearer and easier to use.

“For the overwhelming majority of organisations behaving responsibly, I want to get out of their hair and let them get on with it.”