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U.K. Prime Minister Vows to Slash Red Tape to Boost Investment

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Investment,Regulation,U.K. Economy

British Prime Minister Keir Starmer pledged at the International Investment Summit on Monday to reduce regulatory burdens to encourage investment in the UK. He emphasized removing 'needlessly holding back' regulations and upgrading the system to prioritize growth, innovation, and investment.

U.K. Prime Minister Keir Starmer on Monday vowed to slash regulatory red tape to boost anemic investment in the country.

LONDON — U.K. Prime Minister Keir Starmer on Monday vowed to slash regulatory red tape to boost anemic investment in the country."We've got to look at regulation across the piece, and where it is needlessly holding back investment ... mark my words, we will get rid of it," he told delegates at the government's inaugural International Investment Summit, held at London's Guildhall.

The prime minister restated that growth was the"No. 1 test of this government," and reiterated plans for the U.K. to become the fastest-growing G7 economy. Schmidt added that he was waiting to see"how you pull it off," urging the government to invest further in artificial intelligence to achieve its wider growth goals.

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