Healey Unveils Growth Plan for UK Economy

UK Chancellor John Healey has outlined his plan to drive growth in the country's economy. Speaking at the Manufacturing Technology Centre in Coventry, Healey emphasized the need for investment and innovation to overcome current challenges.

The Chancellor pledged to tackle regulatory bottlenecks and speed up decision-making to give investors greater confidence. He also committed to reducing unnecessary regulation by 25%.

Industry leaders welcomed the plan, with Shanika Amarasekara MBE, Chief Executive of the FLA, stating that growth needs investment and finance. Louise Hellem, CBI Chief Economist, emphasized the importance of fiscal discipline and a competitive business environment in securing investment.

The plans for greater fiscal devolution were also seen as positive by Alan Vallance, ICAEW Chief Executive, who noted that businesses need certainty, simplicity, and stability to invest and innovate.