Boris Johnson plans to cut EU red tape in boost to post-Brexit economy
Prime Minister Boris Johnson plans to throw out large swathes of EU law from the statute book to remove regulations for small businesses.
Johnson will outline plans to remove environmental restrictions which can obstruct infrastructure projects, The Times first reported.
The Treasury reportedly intends to set out changes to the insurance industry which will open up more than £10bn of investment by allowing insurance companies to finance long-term projects such as renewable energy.
“The central aim is to remove barriers that are holding back the economy while promoting new areas of growth,” a government source told The Times. “We need to use this as an opportunity to demonstrate that we understand the public’s priorities.”
The comments come ahead of the Queen’s Speech tomorrow which will set out the government’s manifesto for the next parliamentary session.
Government sources told The Times that Johnson wants to use the Queen’s Speech as an opportunity to “move on” from last week’s election disaster. The ruling conservative party lost 487 seats and ceded control of 11 councils in the local council elections.