LONDON (Reuters) – British Prime Minister Keir Starmer has asked the country’s regulators, including the financial and competition watchdogs, to remove barriers to growth in a bid to revive a sluggish economy, Sky News reported on Saturday .
Starmer wrote to more than 10 regulators on Tuesday – 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 quoted a recipient of the letter, which was also signed by Treasury Secretary Rachel Reeves, as saying it was unequivocal in its direction of prioritizing economic growth and investment.
Sky said the Financial Reporting Council, media regulator Ofcom, the Environment Agency and health regulators also received the letter.
Downing Street did not immediately respond to a Reuters request for comment.
Official figures last week showed the British 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 Oct. 30 tax hike budget would make it harder for companies to invest and recruit workers in the short term.
