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No one has ever written, painted, sculpted, modeled, built, or invented except literally to get out of hell.
Businesses around the UK have slammed the government’s decision to go to regulators to find ideas to drive growth, with one saying: “Asking regulators for growth ideas is like asking a vegetarian how they like their steak.”
The move by Keir Starmer, first reported by Sky News over the weekend, appears to have followed the downward revision of Q3 GDP to 0% two days before Christmas, which in turn followed data earlier in December showing the economy contracted by 0.1% in October.
The government, you sense, is starting to panic. And panic it should. Because the economy is on the brink and the impact of its Budget has yet to feed through.
Either way, business owners were bemused by Keir Starmer’s decision to tap up regulators such as the Financial Conduct Authority, Ofwat and Ofgem for ideas to drive economic growth.
Firstly, the role of regulators is to regulate growth rather than drive it, and secondly, the average civil servant has roughly as much business acumen as a beef and horseradish sandwich.
"Asking regulators for growth ideas is like asking a vegetarian how they like their steak cooked. Ask the entrepreneurs who drive the economy instead. My business was named the second fastest growing privately owned company in the UK last year, and my phone hasn’t rung once. This is further proof that Keir & Co haven’t got a clue and have as much business experience as a goldfish running a tech startup."
"Asking civil servants to create an environment that fosters growth is absurd and shows how out of touch this government is with the businesses that power the economy. UK Plc is on red alert and to see the government turn to regulators to try to get it firing is another massive red flag. If they want to give the economy a chance then U-turning on some of the fiscal insanity announced in the Budget would be a good place to start. Having experienced business owners in pivotal Government roles would also help as it would drive more commercial thinking across departments.
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"Britain’s economy teeters on recession and Labour’s response is laughable at best. Starmer’s government has bizarrely tasked regulators like the FCA, Ofwat, and Ofgem (rule enforcers, not economic architects) with jumpstarting growth. It’s like hiring a traffic warden to fix gridlocks on the M25. Instead of engaging with businesses or innovators, they’ve handed the reins to institutions bound by procedure, guaranteeing more stasis than solutions. This isn’t leadership; it’s dithering on an industrial scale. Starmer’s government risks becoming a monument to mediocrity, a legacy defined by empty gestures and wasted time.
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"Regulators are the brakes of industry, businesses are the throttle. You can’t have one without the other, but for ideas for rapid growth the first port of call should have been the companies, the innovators, not those who regulate them. Then those ideas could have the safety switch of regulation fitted and calibrated to give the desire outcome of growth, but within acceptable parameters."
"This approach reinforces my belief that Labour came into government without a real plan. Asking regulators for ideas to stimulate the economy is a misstep. It's like asking a dentist to come up with a new sugary drink. What’s even more concerning is the lack of business ownership experience within government. It feels like Labour is unwilling—or even afraid—to engage with the private sector. As a business owner, it’s frustrating to see them avoid talking to people like me, who are on the front line of driving growth, creating jobs, and innovating. If economic growth is truly their top priority, they should be speaking with leaders, entrepreneurs, and industry experts from across the business spectrum. These are the people who understand what’s needed to get the economy moving in the right direction. Until they do, I fear we'll continue heading towards a deep recession."
"The Government should be consulting the FSB, CBI and Chambers of Commerce to advise on creating economic growth, i.e. the bodies that represent those who will create it. Increasing access to affordable funding for small businesses, incentives to upskill staff or take on apprentices and business rates or tax reliefs should be a government priority for growing businesses."
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