The government has announced a major shake-up in how UK regulators operate, aiming to make them more accountable and more focused on supporting business growth.
Beginning last week, regulators have a stronger growth duty, meaning they’ll be expected to balance their oversight role with helping businesses invest, innovate and expand. The change is designed to ensure regulation remains proportionate and doesn’t hold back economic activity.
A new public dashboard of regulator performance will also be launched. The new GOV.UK site, which will be updated quarterly, will bring together performance data into one place and allow for direct feedback to the government.
Business and Trade Secretary Peter Kyle explained that the aim is to strip back unnecessary rules and pointless paperwork while keeping essential protections in place. He described the stronger growth duty and new transparency measures as part of the government’s wider “Plan for Change” to boost investment and job creation.
For business owners, will these changes mean a more responsive and balanced regulatory environment that’s clearer about helping your business grow? Let’s see.
UK businesses are increasingly worried about rising operating costs, with concern over both energy and fuel prices reaching their highest levels since the Office for National Statistics (ONS) began tracking them.
Small UK companies are being asked to develop security ideas and products for Britain’s transport sector with an unusually tight deadline. As the geopolitical situation becomes increasingly dangerous, with sabotage to the UK’s physical and cyber infrastructure by countries such as Russia and Iran increasing daily, new security projects are topping the government’s ‘hopeful’ list.
