Prime Minister Sir Keir Starmer, the chancellor and business secretary have written to the UK’s main regulators asking them to arrive up with ideas for reform that could boost market advancement.

They contacted watchdogs, including vigor regulator Ofgem and water regulator Ofwat, before Christmas asking them to submit proposals by mid-January.

This comes after figures published earlier this week indicated the UK economy had flatlined between July and September.

Shadow business secretary Andrew Griffith said the note “says all you require to recognize” about Sir Keir’s government, claiming he has to “beg his own government to make growth after Labour’s damaging budgetary schedule”.

The note – which is also understood to have been sent to the surroundings Agency, the budgetary Conduct Authority (FCA), and healthcare regulators – was first reported by Sky information.

Signed by Chancellor Rachel Reeves and Business Secretary Jonathan Reynolds, it said ministers believed collaboration to be essential to ensure the regulatory surroundings became “more pro-growth and pro-pool” while respecting the independence of regulators.

The FCA said it would reply in the recent year. It added that it had already delivered measures since the summer to back growth, including reforming information that retail investors receive, as well as making proposals to provide better worth for money for workplace pensions.

The note said improving regulation to enable growth and not hold back pool was “an essential part” of the government’s growth mission.

market advancement is a loan amount rationale behind many major policy announcements, from Communities Secretary Angela Rayner unveiling reforms to the planning structure in order to boost house-building, to the chancellor encouraging more “sensible hazard-taking” in budgetary services companies.

This note is evidence that Sir Keir wants to pull every feasible governmental lever to make sure arms-length bodies like regulators, as well as government departments, prioritise helping deliver Labour’s mission of achieving the highest sustained market advancement in the G7.

It is also an indication that the prime minister fears regulators can restrain market advancement by imposing obstacles to business activity – a communication typically more associated with Conservative politicians but which Starmer is increasingly putting at the heart of his plans.

In a talk earlier this month, Starmer said that “the regulators, the blockers and bureaucrats” were part of an “alliance of naysayers” who cruel that “we can’t get things done in our country.”

And in October, addressing a summit of international investors in London, he said: “We’ve got to look at regulation across the piece, and where it is needlessly holding back pool… mark my words, we will get rid of it”.

On the other side of the argument will be groups in various sectors where there is a regulator, who debate that what the government sees as obstacles are in truth essential rules.

Conservative MP Griffith said that if the prime minister wants the UK to exhibit the fastest growth in the G7, then “he’d have more luck turning the clock back to before the general election when the UK was growing under the Conservatives”.

Earlier this month, Sir Keir warned MPs it would receive some period for people to feel their living standards enhance.

This week Reeves also said the test was to fix the economy “after 15 years of neglect is huge”, while shadow chancellor Mel Stride said the figures showed “growth has tanked on Labour’s watch”.