© Reuters. FILE PHOTO: Britain’s Prime Minister Keir Starmer meets with the Sultan of Brunei Hassanal Bolkiah (not pictured) during a meeting in 10 Downing Street on December 19, 2024 in London, England. Leon Neal/Pool via REUTERS/File Photo
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 an effort to revive a sluggish economy, Sky News reported on Saturday.
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, Sky said.
It cited one recipient of the letter, which was also signed by finance minister 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.
Which stock should you buy in your very next trade?
AI computing powers are changing the stock market. Investing.com’s ProPicks AI includes 6 winning stock portfolios chosen by our advanced AI. In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. Which stock will be the next to soar?
