Today Keir Starmer is hosting Labour’s Investment Summit where ‘slashing red tape’ and ‘ripping out bureaucracy’ are being touted as the answer to Britain’s economic woes. The Prime Minister seems to be taking inspiration from the early days of the Coalition Government in his attempt to woo foreign capital – and his strategy is as misguided as it is shortsighted.

The successive deregulatory drives launched since 2010 have left the UK in economic turmoil. Low standards, anaemic growth and poor accountability have become the cornerstones of life in modern Britain. By framing regulations as obstacles to growth, Starmer is adopting an approach to economic policy which has been tried and tried again, and has consistently failed.

Far from being a barrier, these protections create the stability and certainty that responsible investors value. Good regulations drive innovation, address poor corporate practices, win public trust, open up the closed markets to competition, and reduce complexity for UK businesses – creating favourable conditions in which they can plan, invest, and operate with confidence. Only a small minority of businesses cite regulation as a top challenge.

Our research at Unchecked UK consistently shows that both the public and businesses support strong, well-enforced regulations. Our most recent polling with More in Common found that 79% of the public think that regulation is important for creating a strong economy and a stable society. And this holds across all voter groups, including 88% of voters who switched from the Conservatives to Labour at the election said they agreed with the statement. As Labour looks to rebuild Britain it is clear that their rhetoric around slashing red tape and ‘ripping out bureaucracy’ is unlikely to sit well with voters.

We need to push back against this dangerous rhetoric. We’re appearing across print and broadcast media today with a clear message for the Government – that a positive vision for Britain cannot be built around low standards and poor accountability. Below are the toplines we’ll be communicating in our engagement – please do use them in your own communication work this week to push back against this disappointing direction that Labour is heading in.

Also, our ‘Talking Protections’ messaging guide, created alongside communications experts, NEON, outlines the types of language and metaphors that can help land a pro-protections message with a varied audience. Please do use it to make the case that strong protections are the bedrock of secure society and a strong economy, and not something to be chipped away at.

 

Top lines

Today’s investment summit is an opportunity to showcase the UK as a destination for responsible, long-term investment – not to promise a race to the bottom on standards.

Slashing regulations risks damaging the stability and public trust that many investors value. Well-enforced protections create the certainty businesses need.

Our research consistently shows both the public and businesses support strong regulations as the foundation for sustainable economic growth. A large majority of UK business leaders agree regulations help create conditions for long-term success.

The UK should position itself as a high-standards economy that attracts quality investment, not engage in a misguided attempt to cut “red tape” at any cost.

 

Quote

“The Prime Minister’s promise to ‘rip out bureaucracy’ risks repeating the mistakes of previous governments. Our research shows businesses don’t see regulation as a major barrier – only a small minority cite it as a top challenge. What investors really want is stability, certainty and a level playing field. Rather than slashing vital protections, the government should focus on well-enforced regulations that protect the public and give businesses the confidence to invest for the long-term. That’s the real path to sustainable growth.”