Regulating for growth

DBT?s and HMT?s joint unit (the Unit) should develop an Action Plan implementation plan and monitoring arrangements by Spring 2026. This should include: ? milestones for regulators and departments that span the whole Action Plan, and a quarterly internal reporting cycle to report progress and risks; ? a reporting timetable to track progress, and flag risks in a timely manner; and ? arrangements for data validation, interim and final evaluation of the programme.

The Unit should draw together a package of work that will help Secretaries of State and select committees hold regulators to account for delivery of commitments and more broadly contributions to the growth agenda, within six months. This should include: ? a risk-based framework that articulates how regulators contribute to growth, their trade-offs and levers; ? innovation and good practice to encourage growth identified through the cross-government regulators? working group; and ? an engagement plan to share the framework with select committees

In light of the government?s commitment to strengthen the Growth Duty, DBT should: ? work with regulators to identify which regulators and regulatory functions are in scope of the Growth Duty, and set this out publicly; and ? review the monitoring framework.

DBT and HMT should improve the monitoring of administrative burden to business by: ? amending the guidance for regulatory impact assessments conducted for new legislation and by regulators, to make sure future assessments distinguish the administrative burden from the overall cost to business; and ? identifying the regulatory actions with the greatest impact and support departments and regulators to deliver these.