The plan is intended to reduce red tape for both businesses and individuals. It includes reduced reporting requirements, more digitisation and streamlined health and safety rules.
The digital ministry said in a statement that Chancellor Friedrich Merz's government had already introduced relief measures worth three billion euros since taking office in May.
The new package is intended to reinforce those efforts using 50 points of action such as accelerated planning procedures and simplified labour laws.
The bill also pledges to reduce sustainability reporting, speed up the development of Germany's mobile network and fibre-optic deployment, and digitise property contracts.
In addition to the 50 points, there are eight measures the ministry said could be implemented immediately that would save 100 million euros.
READ ALSO: How the German government plans to cut red tape
"The government now has a concrete plan for long-term bureaucracy reduction," said Digital Minister Karsten Wildberger.
"This is a result that Germany has not seen in many years," he said.
In September, business associations urged the government to reduce bureaucracy as part of efforts to revive the struggling economy during a crisis meeting with Merz.
There were mixed reactions from the business community to the package.
Joerg Dittrich, president of the German Confederation of Skilled Crafts (ZDH), said the government had shown it "takes the fight against bureaucracy seriously".
But Thilo Brodtmann, director of the engineering industry federation VDMA, said the plans fell "short of expectations".
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