When UK Prime Minister Keir Starmer took office in July of this year, he and other officials in his government made clear that their top priority was restoring economic growth. In the months since, there has been public debate as to how a balance can be achieved in promoting competitiveness, maintaining stability, and ensuring economic inclusivity.
A recent paper written by Policy Exchange's James Vitali and Zachary Marsh argued that a key aspect of promoting growth will be reducing regulatory burden. The authors criticized what they call the "risk aversion ratchet," whereby regulatory burden has grown largely unchecked for decades. This has stifled growth and innovation, Vitali and Marsh contended.
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