Starmer asks UK regulators for ideas to boost growth.

Sir Keir Starmer, the Prime Minister and Business Secretary, has written to the UK's main regulators asking them to come up with reform ideas that could boost economic growth.

They contacted watchdogs, including energy regulator Ofgem and water regulator Ofwat, before Christmas and asked them to submit proposals by mid-January.

This comes as figures released earlier this week showed the UK economy stalled between July and September.

Shadow business secretary Andrew Griffiths said the letter “tells you everything you need to know” about Sir Keir's government and insisted he “should be begging his government to create growth after Labor undermined the budget”.

The letter, which is said to have been sent to the Environment Agency, the Financial Conduct Authority (FCA) and healthcare regulators, was first reported by Sky News.

The document, signed by Prime Minister Rachel Reeves and Business Secretary Jonathan Reynolds, said ministers believed collaboration was essential to ensure the regulatory environment was “more pro-growth and investment-friendly” while respecting the independence of regulators.

FCA said it would respond in the new year. It added that it had already communicated measures to support growth since the summer, including proposals to reform the information retail investors receive and provide better value for money for workplace pensions.

The letter says improving regulation to enable growth and not stifle investment is an “essential part” of the government's growth mission.

Economic growth is the driving force behind many major policy announcements, from Communities Secretary Angela Rayner unveiling reforms to the planning system to boost housebuilding to the Prime Minister encouraging “smart risk-taking” by financial services firms.

The letter is evidence that Sir Keir wants to use all available government tools to ensure that government departments, as well as arms-length bodies such as regulators, prioritize achieving Labor's mission to achieve the most sustained economic growth in the G7 .

It also signals the Prime Minister's concerns that regulators could curb economic growth by imposing obstacles to business activity. This is typically more associated with Conservative politicians, but it's a message Starmer is increasingly making central to his plans.

In a speech earlier this month, Starmer said “regulators, obstructionists and bureaucrats” were part of an “alliance of naysayers” who “can’t get things done in our country”.

And at the International Investor Summit in London last October, he said: “We need to look at regulation across the board and remove where it unnecessarily impedes investment.”

On the other side is a cross-sector group of regulators, who argue that what governments see as obstacles are actually necessary rules.

Conservative lawmaker Griffith said that if the prime minister wanted Britain to have the fastest growth in the G7, “he would have more luck turning back the clock to before the general election when Britain was growing under the Conservatives.”

Earlier this month Sir Keir warned MPs that it would be some time before people felt their standards of living had improved.

This week, Prime Minister Reeves said “the challenge is to fix the economy after 15 years of neglect”, while shadow chancellor Mel Stride said “growth has been crushed under Labour's watch”.

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