PRIME MINISTER Keir Starmer has asked the country's regulators, including the financial and competition watchdogs, to remove barriers to growth in an effort to revive a sluggish economy, Sky News reported.
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, asking them to present pro-growth initiatives to Downing Street by mid-January, Sky said.
It cited one recipient of the letter, which was also signed by chancellor Rachel Reeves, as saying it was unambiguous in its direction to prioritise economic growth and investment.
Sky said the Financial Reporting Council, media regulator Ofcom, the Environment Agency and healthcare regulators also received the letter.
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 Oct. 30 budget would make it harder for companies to invest and recruit workers in the short term.
(Reuters)
An aerial view of the British Steel Scunthorpe site on September 13, 2024. (Photo: Getty Images)
Mehakdeep Singh,Sehajpal Singh
FILE PHOTO: A general view shows British Steel's Scunthorpe plant, in Scunthorpe, northern England, Britain, March 31, 2025. REUTERS/Dominic Lipinski