Royal Mail chairman attacks UK’s watchdogs

In a striking critique of the UK’s regulatory environment, Keith Williams, chairman of International Distribution Services (IDS), which owns Royal Mail, has condemned the system as “fundamentally flawed.” Williams, who previously served as chief executive of British Airways, argues that the current regulatory model has hindered economic growth throughout the 14 years of Conservative governance. His comments come as the UK faces increasing scrutiny over its economic performance. Williams emphasized the need for reform, particularly in the postal services sector, but his concerns extend beyond this area. He urged Labour leader Sir Keir Starmer to acknowledge that the UK’s regulatory framework is outdated and inadequate for fostering economic progress. He pointed out that while the UK was once a leader in economic regulation, it has now fallen behind other nations, including Singapore, Australia, Denmark, and Ireland. The former British Airways chief highlighted the importance of effective regulation in driving economic success and innovation. He noted that the UK’s once-admired regulatory practices have not kept pace with global standards, leading to a stagnation in growth and competitiveness. Williams’ remarks signal a call to action for policymakers to reassess and revamp the regulatory landscape to better support the economy. As the UK navigates its post-Brexit economic landscape, Williams’ intervention underscores the urgent need for a regulatory overhaul to stimulate growth and restore the country’s standing in the global market.