UK’s Starmer Pledges Red Tape Reduction, Seeks Investors

AFP/APP

London: Prime Minister Keir Starmer on Monday urged global business leaders to “back Britain,” as he hosted a major summit aimed at securing foreign investments to fuel economic growth in the wake of post-Brexit challenges.

Addressing industry leaders at the International Investment Summit in London, Starmer promised to “rip out the bureaucracy that blocks investment” and vowed to slash red tape. His recently elected Labour government, though pro-business, also plans to implement new workplace protections for employees, striking a balance between business interests and workers’ rights.

Starmer emphasized the importance of private sector investment in rebuilding the UK’s economy, stating, “This is a great moment to back Britain.”

He added that unnecessary regulations hindering the development of essential infrastructure projects such as homes, data centers, roads, and train lines would be removed.

The summit comes amid a slump in Starmer’s government’s popularity, with recent polling showing only 18 percent of the public approving of its performance.

However, the prime minister dismissed concerns about short-term news cycles, focusing instead on the long-term economic opportunities presented by his electoral mandate.

Starmer also underscored his commitment to restoring Britain’s reputation as an “open, outward-looking, confident trading nation.”

During the summit, ministers are expected to announce significant foreign investments in sectors such as AI, life sciences, and infrastructure, building on previously unveiled green energy projects worth £24 billion, including major investments from Spanish and Danish companies.