Eric Schmidt, former CEO of Google, has warned that excessive regulation and bureaucracy are holding back the UK’s economic growth and progress towards its net-zero targets.
Speaking at an investment summit organized by Sir Keir Starmer, Schmidt suggested the UK government would benefit from appointing an “anti-regulation minister” to address these issues, which he believes are holding back investment and stifling innovation.
Schmidt said regulatory delays are hampering the country’s green ambitions, especially the 68% emissions reduction target by 2030 under the Paris Agreement. He stressed the need for urgent action, noting that without reform, the UK would fail to meet its decarbonisation targets.
The comments come as ministers acknowledge that slow grid connections and bureaucracy threaten their efforts to create a net-zero energy system by 2030. Business Secretary Jonathan Reynolds echoed Schmidt’s concerns, acknowledging that regulatory delays represent one of the biggest challenges facing the UK, particularly in energy. Renewable. sector, where approval of projects such as offshore wind farms can take more than a decade.
Councilor Rachel Reeves also criticized the failure of water regulation in the past, pointing to the ongoing crisis in Thames Water and the lack of investment in infrastructure. Reeves stressed that investment is urgently needed, but any price increases should be directed towards improvements rather than shareholder profits.
Schmidt’s call for regulatory reform is consistent with other industry voices, including Octopus Energy CEO Greg Jackson, who recently urged the government to reduce barriers to heat pump installations, which are essential to the UK’s green energy transition. Jackson criticized the need for planning permission for heat pumps, arguing that regulatory hurdles were deterring potential customers and slowing progress.