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Chancellor Rachel Reeves should tell the cabinet ministers that they should carry out a complete examination of the approximately 130 regulatory authorities of the UK to ensure that they work to increase growth, including the view of whether some should be scrapped.
Reeves Has promised high -ranking bankers that they want to continue cutting bourgeois because the ministers openly speculate that they re -shape the country’s regulatory landscape.
“You are fatally serious about regulation and seem to be galvanized by the fight against Blob,” said a person last week about a meeting between Reeves and British bank bosses.
The person said that the Chancellor had written to cabinet minister to remind them of checking all regulatory authorities working in their field and whether they are “configured so that they promote growth”.
The allies of Reeves confirmed that the ministers would be asked to consider the work of around 130 regulatory authorities, including the areas including the areas FinanceFishing, doctors and drinking water.
Reeves and Prime Minister Sir Keir Starrer wrote to the 17 most powerful supervisory authorities on Christmas Eve and wanted to know what they were doing to promote growth.
But the Chancellor now wants the ministers to consider each regulatory authority in detail, since a debate in Whitehall begins whether some guard dogs should be switched off.
Reeves told the World Economic Forum in Davo’s last month that so many supervisory authorities “contribute to the overlapping stresses with which companies are confronted” and said that every watch dog “had a role in the regulatory barriers that hold back growth “.
In the meantime, Jonathan Reynolds, Minister of Busy, has indicated The closure or merger of some wax dog bodies: “We have to ask the question: Do we have the right number of supervisory authorities?”
Reynold’s last month forced the resignation by Marcus Bokkerink, chairman of the competition and market authority, in a signal that the ministers actively promote the supervisory authorities.
Bank bosses of the past week said that the atmosphere was “very positive” and that Reeves seemed determined to provide a tightening of the regulation.
The list of British supervisory authorities ranges from giants such as the Financial Conduct Authority and Care Quality Commission to smaller areas such as natural resources Wales, the Forensic Science regulatory authority or the security industry.
Reeves urgently needs growth to return to the British economy, but they was criticized Through some consumer and environmental groups to choose some of the protective measures that the regulatory authorities offer.
The Ministry of Finance said: “We have regulated a risk for too long than for growth, and that’s why we work with the supervisory authorities to understand how the reform on the entire administrative rods can start economic growth.
“We can repeat our regulatory approach, maintain high international standards and protect consumers, while we take the advanced reforms required for the support of growth and investments, including to enable more well -founded and more responsible risk.”
