PM pledges to scrap red tape to boost UK investment

In a bid to stimulate investment, the prime minister will announce plans to scrap regulations that “unnecessarily hinder” investment in the UK at a high-profile summit in London. 

Sir Keir Starmer will address business leaders with a pledge to “tear down” bureaucratic barriers and streamline processes. He’ll also call on the UK’s competition regulator to make boosting economic growth a top priority.

As anticipation builds ahead of the international investment summit, several global corporations have written to The Times, noting that greater economic stability has improved the UK’s appeal to investors.

However, with the Budget just two weeks away, the government is walking a tightrope, having already hinted that tax hikes could be on the horizon.

On Sunday, Business Secretary Jonathan Reynolds stopped short of ruling out an increase in National Insurance contributions from employers. While Labour’s manifesto promised not to raise National Insurance, Reynolds clarified to Sky News that the pledge referred specifically to taxes on employees and income tax.