UK Prime Minister Pressures Regulators to Prioritize Economic Growth

Keir Starmer directs key watchdogs to propose pro-growth measures by January as the government seeks to revive a stagnant economy.

Prime Minister Keir Starmer has written to over ten regulatory bodies, including Ofgem, Ofwat, and the FCA, urging them to prioritize economic growth and investment in their operations.
The letter, co-signed by Chancellor Rachel Reeves and Business Secretary Jonathan Reynolds, demands concrete proposals for growth-oriented reforms by mid-January 2025.
This move follows official data showing no economic growth during the first three months of the Labour government, intensifying pressure to address the UK's economic challenges.
Critics warn that prioritizing deregulation could lead to weakened consumer protections and have called for rebuilding ties with the EU to boost trade and investment.
The government frames the initiative as part of its broader 'Plan for Change,' aimed at reducing bureaucratic barriers and fostering job creation and business investment.