Her Finance Minister, Rachel Reeves, said the regulators are blocking the government’s efforts to revive the economy, in its last attempt to convince markets that it is taking action to stimulate the UK, according to Bloomberg. Making the first of a series of scheduled meetings, Reeves called yesterday (16.01.2025) a group of supervisory authorities to “stricken regulatory barriers” and focus on Britain’s development. Participants included the bosses of the Competition and Markets Authority, as well as regulatory authorities for the communications, water and energy industries: Ofcom, Ofwat and Ofgem. ADVERSE “We will not be able to develop the economy if regulators continue to do what they do,” Reeves told the BBC in today’s interview (17.01.2025). He said he would encourage regulators to “do what he needs”. Reeves is trying to react from the downturn in the market that has challenged her financial plans and has led to questions about her future. While market pressures have declined over the past few days, with the UK’s loan cost falling from the high 17 years, there has been more negative economic news today, with a sudden fall in UK retail sales during the critical Christmas season. The challenge for Reeves is to convince investors that it is taking action to address Britain’s weak economic performance, especially since its government presided over a fall in consumer confidence and business climate after last year’s general election, and also hit businesses with a significant increase in the wage-earning tax on its budget in October.
Britain: Finance Minister claims regulators delay growth
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