Background
Regulators and their approach to regulation can play a vital role in providing the foundations for innovation, improving the attractiveness of regulated sectors, and ensuring competition to deliver the best service to consumers. However, our previous work on the regulation landscape and regulatory burdens (2011 and 2016) has identified weaknesses in governance as well as challenges measuring regulatory costs.
Over the last 15 years there have been several ‘growth focused’ regulatory initiatives, led by different parts of government and applying to different regulators. These initiatives include the red tape challenge, the Growth Duty, the Smarter Regulation programme, and – most recently – a focus on encouraging regulators to support the UK government’s Growth Mission.
This is a cross-sector study that will examine whether government and regulators are aligned in their growth ambitions, and how effective recent initiatives have been at encouraging regulators to actively consider their contribution to growth. It will also highlight common challenges regulators face in delivering the government’s growth ambitions, as well as areas of good practice that can be shared across departments and regulators.
Scope
The study will examine whether the Department for Business and Trade (DBT) HM Treasury (HMT) and regulators are aligned in their work and understanding of how regulation can contribute to growth. It will consider:
- whether HMT and DBT have an aligned view of how regulation can contribute to growth
- whether regulators have adapted their approach to regulation in response to the Growth Duty
- whether DBT and HMT are monitoring and learning lessons to identify good and bad practice
NAO team
Director: Anita Shah
Audit Manager: Simran Nijjar