British PM Keir Starmer's Call for Growth Initiatives

LONDON (Reuters) – British Prime Minister Keir Starmer has urged the country's regulators, including the financial and competition watchdogs, to eliminate barriers to growth to revitalize a sluggish economy, as reported by Sky News on Saturday.

On Tuesday, Starmer wrote to over ten regulators – including the Financial Conduct Authority, the Competition and Markets Authority, and energy and water regulators Ofgem and Ofwat. He requested that they present pro-growth initiatives to Downing Street by mid-January, according to Sky.

A recipient of the letter, also signed by Finance Minister Rachel Reeves, noted that its direction to prioritize economic growth and investment was clear.

Sky reported that the Financial Reporting Council, media regulator Ofcom, the Environment Agency, and healthcare regulators also received the letter.

Downing Street has not yet responded to a Reuters request for comment.

Recent official figures indicated that Britain’s economy did not grow during the first three months of Starmer's new government, further highlighting signs of a slowdown. Business groups have expressed concerns that the government's tax-raising budget on October 30 would hinder companies' ability to invest and hire workers in the short term.