The Prime Minister is right to focus on regulating for growth, not just to prevent risk, but this must be complemented by a change in mindset for British businesses, says Alastair King

It was heartening to read the Prime Minister’s recent column in City AM on the government’s commitment to cut the cost of regulation for businesses and “bring back the animal spirits of the private sector”. This builds on the commitments made by the Chancellor in her Mansion House speech to reform a regulatory culture which has become too risk-averse, to the point of sometimes stifling innovation and growth.

The government’s recognition of excessive risk aversion in the system is absolutely correct. We need to regulate for growth, not just against risk. By addressing this, we can unlock our potential and drive substantial investment.

Regulatory reform on the part of the government is central to the theme of this mayoralty – growth unleashed – so that we move on........

© City A.M.