Chancellor John Healey today, 7 September 2026, outlined a plan to drive economic growth across the UK, including a goal to double the number of 'unicorn' firms – companies valued at over £1 billion. Speaking at the Manufacturing Technology Centre in Coventry, Mr Healey also announced reforms aimed at reducing delays in major infrastructure projects.
The Chancellor stated that changes to the judicial review process for Nationally Significant Infrastructure Projects will address a system where decisions can face multiple challenges before construction begins. Judicial review challenges typically delay such projects by an average of 18 months.
As part of the growth strategy, a £150 million British Business Bank fund will be established to support high-growth businesses in the North. Additionally, the Northern 500 initiative will bring together 500 mid-sized businesses in the North into a growth community.
New powers are also planned to oversee 'sandboxing', allowing businesses and regulators to test new technologies and models in controlled environments. These powers, to be delivered through the Business Department’s Regulating for Growth Bill, are expected to be ready for deployment next year.