UK Inquiry Tracker

Regulating for growth

Public Accounts Committee Open Inquiry

Opened: 12 Dec 2025 Parliament page

When regulation is carried out well, it can be essential for the promotion of economic growth and investment. Poorly-instituted regulation can depress investment and inhibit growth. There have been nine government initiatives since 2005 aimed at reducing regulatory costs in support of economic growth. HM Treasury in March 2025 published … Read more When regulation is carried out well, it can be essential for the promotion of economic growth and investment. Poorly-instituted regulation can depress investment and inhibit growth. There have been nine government initiatives since 2005 aimed at reducing regulatory costs in support of economic growth. HM Treasury in March 2025 published its Action Plan laying out how it would encourage regulators to support innovation and economic growth. It builds on past schemes such as 2017’s ‘Growth Duty,’ which introduced a requirement for regulators to have regard for the promotion of economic growth. The Public Accounts Committee (PAC) in its 2016 report on better regulation called on government to rethink its approach, having made limited progress on cutting the costs to business of regulation. It found that government at the time had achieved less than £1bn savings, almost entirely down to it counting the mandatory 5p plastic bag charge as a 'saving' for retailers because of the additional revenue it brings them. The PAC more recently examined water sector regulation in 2025 , which found that a failing sector had been left to flounder, with piecemeal regulators appearing to be missing in action. The National Audit Office (NAO) is examining whether the Department for Business and Trade (DBT), HM Treasury (HMT) and regulators are aligned in their understanding of how to regulate for growth. Proceeding from the NAO’s report due for publication in early 2026 , the PAC will take evidence from senior officials from these Departments on how effectively growth is being promoted through regulation, and what challenges currently exist in this area for regulators and government. If you have evidence on these issues, please submit here by 23:59 on Monday 2 March 2026. Please look at the requirements for written evidence submissions and note that the Committee cannot accept material as evidence that is published elsewhere. The Committee decides what information to publish and how. You can request anonymity or confidentiality when you send evidence, but it is for the Committee to say whether it will agree.It may treat submissions confidentially, even where you have not requested this. Please note that the Committee’s inquiry cannot assist with individual cases. If you need help with an individual problem you are having, you may wish to read the information on Parliament’s website about who you can contact with different issues. Show less

1 Oral session

1 Event

Activity timeline 2 events

16 Mar
2026

Oral evidence

Oral evidence session

16 Mar
2026

Formal meeting (oral evidence session) · The Grimond Room, Portcullis House

Committee event

Oral evidence sessions 1 session

16 Mar 2026

View on parliament.uk

Caleb Deeks · Department of Business and Trade David Lunn · Department of Business and Trade Gareth Davies CB · Department for Business and Trade Jessica Glover · HM Treasury Jim O'Neil · HM Treasury