Regulatory Renewal: Britain Focuses on Promoting Growth

Prime Minister Sir Keir Starmer made it clear that the United Kingdom aims to modernize its regulatory framework to promote investment and growth. During the International Investment Summit, he announced plans to remove bureaucratic obstacles that impede investment willingness. Starmer emphasized that the government ensures that all of the country's regulatory bodies take growth as seriously as businesses do. He invited the business community to voice their concerns and assured them of the commitment to fostering growth. The summit comes after challenging weeks for the government, but the Prime Minister promised to think long-term and not be distracted by daily headlines. He stressed the need to strengthen public services and stabilize the economy, highlighting that the current time is crucial for shaping the future of the UK. Technology Secretary Peter Kyle also commented on the plans to reduce bureaucracy, aiming to accelerate innovation without neglecting quality standards. He emphasized the importance of smart and creative regulation, referring to the recently announced Regulatory Innovation Office as an exemplar of the government's strategy. Ahead of the summit, companies like JP Morgan and Goldman Sachs expressed their confidence in the British economy in a joint letter to the Times and announced their readiness to invest in the UK.