For all the talk about ‘unleashing growth’ the Labour government cannot bring itself to say it wants to deregulate to achieve that growth. No surprise there…
Tory Harriet Baldwin asked the Treasury in a written question “what deregulatory steps” it has taken since Reeves’ Mansion House speech, in which Reeves boasted: “We have swept away regulations.” Not the official line any more…
The government’s mealy-mouthed response: “The government is not aiming to deregulate, but to upgrade the UK regulatory system so that it does not unduly hold back economic growth… The UK will remain a global leader in promoting high industry standards.” So much for ‘sweeping away’ red tape…
Labour cites four minor regulatory changes to defend that position including “asking the FCA to report back by the end of September on how it plans to address concerns about the application of the Consumer Duty for firms primarily engaged in wholesale activity.” Wow…
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