He did not publicly identify which of them could be axed, although the Financial Times reported this week that the chancellor would order an audit of roughly 130 regulators across the economy to assess whether they were sufficiently focused on growth.
If confirmed, it would form part of a crackdown on Britain's economic regulators instigated by Sir Keir Starmer, the prime minister, and Rachel Reeves, the chancellor, as they seek to cut red tape and stimulate economic growth.
Sky News has learnt that ministers and officials are examining whether to scrap the Payment Systems Regulator (PSR) and fold it into the Financial Conduct Authority (FCA).
On Christmas Eve, the PM and chancellor wrote to about 15 major regulators - including Ofcom, Ofgem and Ofwat - demanding ideas for how to remove bureaucracy from the economy and more proactively encourage growth.
Speaking in January, Jonathan Reynolds, the business secretary, signalled that a number of watchdogs could be abolished, saying: "We've got to genuinely ask ourselves the question: have we got the right number of regulators?".
