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Businesses invited to help shape ‘growth duty’ and Regulators’ Code

Business Minister Michael Fallon yesterday launched two consultations to re-shape the way regulators work with business, so that upholding standards does not act as a barrier to growth and enterprise.

Businesses and regulators are invited to contribute to the development of a proposed ‘growth duty’ for regulators - which will require regulators to take into account the impact of their activities on the economic prospects of firms they regulate.

A parallel consultation will seek views on an updated Regulators’ Code - which removes uncertainty for businesses by clarifying what they can expect from those that regulate them, including accessible advice and methods of enforcement that are tailored to meet the needs of the business.

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