Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Ex-Google chief warns red tape is stifling UK growth

by October 15, 2024
October 15, 2024
Ex-Google chief warns red tape is stifling UK growth

Eric Schmidt, former chief executive of Google, has warned that excessive regulation and bureaucracy are holding back the UK’s economic growth and progress towards its net zero goals.

Speaking at Sir Keir Starmer’s investment summit, Schmidt suggested the UK government would benefit from appointing a “minister of anti-regulation” to tackle these issues, which he believes are hindering investment and stifling innovation.

Schmidt argued that regulatory delays are obstructing the country’s green ambitions, particularly the goal of reducing emissions by 68% by 2030 under the Paris Agreement. He stressed the need for urgent action, noting that without reform, the UK would fail to meet its decarbonisation targets.

The remarks come as ministers acknowledge that slow grid connections and bureaucracy threaten their efforts to create a net zero power system by 2030. Business Secretary Jonathan Reynolds echoed Schmidt’s concerns, admitting that regulatory delays are one of the UK’s biggest challenges, particularly in the renewable energy sector, where projects like offshore wind farms can take over a decade to approve.

Rachel Reeves, the Chancellor, also criticised the failure of past water regulation, pointing to the ongoing crisis in Thames Water and a lack of investment in infrastructure. Reeves highlighted that investment is urgently needed, but any price increases must be directed towards improvements rather than shareholder profits.

Schmidt’s call for regulatory reform aligns with other industry voices, including Octopus Energy CEO Greg Jackson, who recently urged the government to reduce barriers to heat pump installations, which are essential to the UK’s green energy transition. Jackson criticised the need for planning permission for heat pumps, arguing that regulatory hurdles were deterring potential customers and slowing progress.

Read more:
Ex-Google chief warns red tape is stifling UK growth

0
FacebookTwitterGoogle +Pinterest
previous post
Businesses losing trust in HMRC as service standards decline
next post
Vauxhall owner to decide future of UK factories as net zero row escalates

You may also like

Government’s AI investment will create opportunities, not job...

March 18, 2025

The DDoS Double Bluff: When Fake Traffic Masks...

May 5, 2025

UK marketplace sellers brace for ‘second Brexit’ as...

February 18, 2025

Hiring confidence reaches a two-year high as applications...

July 19, 2023

Rising sales fail to boost retailers’ confidence for...

August 26, 2022

UK’s entrepreneurial ambitions stronger than ever as small...

June 9, 2023

Vodafone terminates contracts of 12 franchisees who joined...

June 16, 2025

How Do I Start to Promote a Casino...

October 17, 2022

Maximising Workplace Motivation with Creative Breaks and Digital...

October 10, 2024

What Are the Benefits of Using Renewable Energy...

March 17, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Patients Using Popular Meds May Face a Tariff Hit: US–EU Trade Deal Targets Branded Drugs Like Ozempic and Wegovy

      August 25, 2025
    • What Automatic Planning and Scheduling Means for Your Projects

      August 25, 2025
    • Ultimate Traders Review: Easy and Effective Prop Trading

      August 25, 2025
    • ‘Separated from reality’: Senate Republicans fume as Dems use Epstein saga to block Trump’s agenda

      August 25, 2025
    • US ally summons Trump ambassador over ‘unacceptable’ antisemitism allegations

      August 25, 2025
    • Gen Z workers turn back to office jobs to combat loneliness

      August 25, 2025

    Categories

    • Business (8,876)
    • Investing (2,236)
    • Politics (16,478)
    • Stocks (3,228)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved