reform
noun [ C or U ]
uk/rɪˈfɔːm/ usan improvement or set of improvements made to a system, law, organization, etc. in order to make it more modern or effective:
reform of sth Essential reform of the banking sector is under way.
reforms in sth He has called for reforms in the retirement system for years.
banking/economic/tax reform Corporate tax reform has left companies uncertain about future tax bills.
Market reforms have opened the doors to greater competition.
fundamental/major/radical reforms
reform
verb [ T ]
uk/rɪˈfɔːm/ usto make an improvement to a system, a law, an organization, etc., in order to make it more modern or effective:
reform the economy/the tax system, etc.
Corporation tax will be reformed to raise more revenue.