Truss confirms plans to cut red tape

UK Prime Minister Liz Truss has told her party’s conference that her administration will focus on reducing regulations to allow infrastructure projects to get off the ground.

In her flagship speech at this week’s Conservative Party conference, Truss told delegates that the government “must breakdown the barriers to growth built up in our system over decades”.

Suggesting that decisions “take too long” and burdens on businesses are “too high”, she added: “Infrastructure projects get delayed for years, and years and years.”

However, critics have argued that the government’s ability to use new investment and spending plans to drive growth will be hampered by its additional focus on cutting taxes, potentially leaving plans unfunded. Such a position could offer more scope for bringing the private sector in to help fund projects.

Truss also hailed her plans for so-called investment zones, which she said would help the government “level up across the country”. Opponents to those plans have warned that such zones could simply displace investment from one place to another, instead of genuinely creating new growth.