Keir Starmer said he would take on the “cottage industry of checkers and blockers slowing down delivery for working people,” in a speech in East Yorkshire. 

This will involve “a new target of cutting compliance costs for businesses by a quarter”. 

In a wide-ranging speech, the Prime Minister also announced he would abolish “arms-length body” NHS England and bring the health service “back at the heart of government where it belongs.”

The speech comes after a shake-up among business watchdogs this week.

The Payment Systems Regulator will be abolished and rolled into the Financial Conduct Authority. 

Financial Conduct Authority pulled its ‘name and shame’ plan, scrapped work on diversity and inclusion with the Prudential Regulation Authority it began in 2023, and paused ongoing work on non-financial misconduct — such as bullying, harassment and discrimination. 

While the Competition and Markets Authority launched a review of the measures it hands out to settle takeovers and launched a Mergers Charter setting out how it will conduct investigations.    

Starmer declared that Labour will scrap regulations to ensure that the government’s pledge of building 1.5 million homes over the next five years can be met. 

Last week saw the introduction of the Planning and Infrastructure Bill was introduced in parliament today to speed up housing and other key projects. 

The Bill includes stronger compulsory purchase powers, better-funded local planning committees and extra provisions for development corporations – tasked with starting work on 12 new towns before the next election.

The last few months have also seen a revolving door among at the top of the country’s largest watchdogs, as the government pushes its growth agenda. 

Last month, the Financial Ombudsman Service chief executive Abby Thomas became the fourth head of a regulator to suddenly leave her post since November.  

Former Amazon UK head Doug Gurr was installed as interim chair of the Competition and Markets Authority after Marcus Bokkerink also left suddenly in January, after just over two years in the role.  

In November, Homes England chair Peter Freeman and chief executive Peter Denton announced they would resign after being sent a letter by housing minister Matthew Pennycook, setting out higher 2025 homebuilding targets.