How does America ‘regulate for growth’? February 1, 2025 Government is not always best placed to get the balance right between protecting the public and reducing burdens on businesses. The US offers a tried-and-tested alternative, says Joshua Flax The news that the Prime Minister and Chancellor recently wrote to regulators asking them to remove obstacles to economic growth raises the question about what “regulating [...]
Chancellor Rachel Reeves ‘won’t apologise’ for reforming UK regulation January 29, 2025 Rachel Reeves has said that she “won’t apologise for wanting to reform how regulation works in Britain” after a major economic speech which saw her back a third runway at Heathrow. The Chancellor unveiled a suite of policies the Treasury said would “kickstart” economic growth, including an “action plan” intended to instil a pro-growth approach [...]
‘Deregulation is essential’: Starmer vows to slash red tape in bid for growth January 29, 2025 Keir Starmer vowed to deregulate Britain and cut through “thickets of red tape” today as he tried to reboot his government’s handling of the economy following months of anaemic growth and criticism from business. In an article for the Times, the Prime Minister wrote “deregulation is essential” and warned investors were shunning the UK due [...]
CMA begins redundancy programme after overshooting budget January 23, 2025 The competition watchdog is planning to slash its head count by around ten per cent after overshooting its budget last year, piling fresh pressure on the body following the sudden exit of its chair this week. The Competition and Markets Authority (CMA), which has faced public anger from the Prime minister and Chancellor over its [...]
Labour’s appeal to regulators is about blame-shifting, not growth January 20, 2025 Labour has appealed to the regulators for ideas to boost the economy, but Britain can’t regulate its way to growth, writes Eliot Wilson After six months of a Labour government, it would be hard to argue the economy is healthy. The economy flatlined in July, August and September, the hike in employers’ National Insurance contributions [...]
FCA looks to ease consumer duty burden as Reeves pushes regulators for growth January 17, 2025 The Financial Conduct Authority (FCA) will look to ease the burden of complying with its stringent consumer duty rules as part of a push to cut red tape in the City and unlock growth. In a letter to the Chancellor Rachel Reeves this week, FCA boss Nikhil Rathi said the regulator would drop a requirement [...]
Is the UK government right to put consumer duty on the chopping block? January 16, 2025 This morning, business secretary Jonathan Reynolds made one of this government’s targets for deregulation clear: consumer duty. “On regulation, I talk to business people every day, as you would expect, and this is the biggest thing that they raise,” said the minister on ITV’s Good Morning Britain, while being interviewed by former shadow chancellor, Ed [...]
Carillion is ancient history. Seven years on, the audit profession has moved on January 15, 2025 Seven years on, the audit industry has moved on from Carillion. It's legislation that needs to catch up, writes ICAEW CEO Alan Vallance.
Payments regulator in Treasury crosshairs as firms revolt December 16, 2024 As the government hunts for ways to make Britain more competitive, the country's payments regulator has become caught in the crosshairs.
Tory peer’s plan for English football ‘opens door to Kim Jong Un and Assad’ December 15, 2024 Dictators such as Kim Jong Un or Bashar al-Assad could be encouraged to buy English football clubs if “preposterous” proposals from Tory peers are passed, campaigners have warned. Lord Moynihan, a former sports minister under Margaret Thatcher’s premiership, has argued that anyone with diplomatic immunity should be exempt from the owners’ and directors’ test that [...]