Labour has appealed to the regulators for ideas to boost the economy, but Britain can’t regulate its way to growth, writes Eliot Wilson

After six months of a Labour government, it would be hard to argue the economy is healthy. The economy flatlined in July, August and September, the hike in employers’ National Insurance contributions cost jobs and may see prices rise, and the cost of government borrowing recently hit a 16-year high, before falling again with an unexpected dip in inflation. The Prime Minister and the Chancellor remain as bullish as their personalities allow, but they must privately be concerned.

On Christmas Eve, Sir Keir Starmer wrote to some of the UK’s main regulatory bodies, the Financial Conduct Authority, the Competition and Markets Authority, the Environment Agency, Ofgem, Ofwat and Ofcom, asking them to contribute suggested reforms to encourage growth by mid-January. He had earlier that month identified “the regulators, the blockers and bureaucrats” as part of “an alliance of naysayers” holding back progress.

Last week, Rachel Reeves, who in her Mansion House speech last year accused regulators of “regulating for risk, but not regulating for growth”, invited a group of them to Downing Street. She wants financial regulators in particular – the FCA, the Bank of England’s........

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