LONDON (Reuters) – British Prime Minister Keir Starmer has asked the country’s regulators to remove barriers to growth in an effort to revive a sluggish economy.
Starmer wrote to more than ten regulators, including the Financial Conduct Authority, the Competition and Markets Authority and energy and water regulators Ofgem and Ofwat, on Tuesday, asking them to present pro-growth initiatives to Downing Street by mid-January. The letter, which was also signed by finance minister Rachel Reeves, was described as unambiguous in its direction to prioritise economic growth and investment.
Regulators who received the letter included the Financial Reporting Council, media regulator Ofcom, the Environment Agency and healthcare regulators. Downing Street did not immediately respond to a Reuters request for comment.
Official figures last week showed Britain’s economy failed to grow during the first three months of Starmer’s new government, adding to signs of a slowdown. Business groups have also said the government’s tax-raising budget would make it harder for companies to invest and recruit workers in the short term.
