For the last 30 years in the UK, good economic regulation has supported high levels of investment in the UK’s regulated sectors and should be celebrated as a successful model that has been reproduced around the world. However, there is now a concern that the focus has shifted too heavily towards short-term outcomes at the expense of long-term investment.
GIIA recently made a submission to the Department of Business, Energy and Industrial Strategy’s Framework for Better Regulation calling for decisive action and a clear set of guiding principles to ensure the UK’s regulatory regime remains fit for purpose.