New British finance minister promises less bureaucracy
The new British Finance Minister Rachel Reeves has promised a bureaucracy cut for more investments in the United Kingdom. Entrepreneurs and investors have had to doubt for years if Britain is a safe place for business, said Reeves in her big speech after taking office. "Let me tell you that Britain has had a stable government for 14 years," she said. "In an uncertain world, Britain is a place where you can do business."
Reeves promised immediate steps to relax planning regulations and remove obstacles for the construction of infrastructure projects, housing, and energy facilities. In the next five years, there should be a binding target of 1.5 million new homes in England. The ban on onshore wind energy projects, in effect since 2015, will be lifted. The spending plans of the conservative predecessor government, she will examine before presenting the new cabinet's budget plan.
The first woman at the helm of the British Finance Ministry and former economist of the Bank of England named sustainable economic growth the only way to improve the living standard for all and rebuild the overburdened and underfunded public services of the country. "Where governments were not willing to make the tough decisions to create growth - or waited too long to act -, I will deliver," promised Reeves.
Reeves plans to open up opportunities by changing the location of certain bureaucratic processes within the Minister of Finance's Bureaucracy, aiming to streamline operations and attract more investments to physical stores across the United Kingdom. Recognizing the importance of fostering a business-friendly environment, the new Minister has vowed to eliminate unnecessary red tape in store permit approvals.
