The government has also confirmed plans to introduce legislation to nationalize British Steel, saying it will “protect sovereign British industries.”
Unlocking growth
“The immediate challenge is to keep removing barriers to growth,” Starmer said, pitching a vibrant economy as fundamental to the U.K.’s ability to withstand external shocks.
The government will bring forward a Regulation for Growth Bill placing stronger expectations on regulators to back growth, while creating sweeping regulatory sandboxes for novel technologies. A parallel Competition Reform Bill will aim to increase the speed and predictability of decisions by the U.K.’s competition watchdog.
A separate Enhancing Financial Services Bill will deliver on commitments made by Chancellor Rachel Reeves last year to cut red tape, reduce the number of financial services regulators and give ministers greater oversight.
Reforming the state
“Landmark public service reforms in the NHS, police and special education needs will also strengthen our country,” Starmer said, announcing several bills to deliver on plans to modernize the public sector set out in 2024.
They include an NHS Modernisation Bill to reform and digitize the health system, as well as a Police Reform Bill that will bring about a radical restructuring of the U.K.’s police forces and introduce new frameworks for police to make use of new policing tools.