In this submission we set out some preliminary arguments for adopting a protective approach to regulatory policymaking in the UK. We examine the effectiveness of previous government initiatives to reduce regulation, as well as the existing cost/ benefit appraisal process for assessing the value of regulations.
We make the following policy recommendations:
- The One-In-[N]-Out procedure should be scrapped and replaced with a case-by-case appraisal process which considers regulations based on their merits for wider society
- The scope of Regulatory Impact Assessments should be broadened to take into account wider societal benefits, and the Regulatory Policy Committee’s powers extended to enable it rate policy proposals as unfit for purpose on the basis of these indicators
- Investment in UK national and local regulators must be sufficient to enable these bodies to fulfil their duties and reverse the decline in enforcement capacity