Rachel Reeves Pressures UK Regulators to Prioritize Economic Growth

The Chancellor demands regulatory reforms and fresh ideas to boost Britain's sluggish economy, following weaker-than-expected GDP growth data.

Rachel Reeves convened a meeting with leaders of seven major UK regulators, urging them to propose reforms that support economic growth.
The Chancellor criticized existing regulatory frameworks for being overly risk-averse and called for a cultural shift to prioritize growth and investment.
Regulators presented ideas such as overhauling energy tariffs, improving transparency in rail performance, and exploring innovative technologies like drones, but Reeves deemed these insufficient.
Recent data from the Office for National Statistics showed the UK economy grew by only 0.1% in November, falling short of economists' expectations.
Reeves emphasized the need for greater urgency and ambition in regulatory reforms, signaling that industry leaders will also be tasked with contributing growth-focused proposals.