Business Regulators Accountability 2023-05-18
2023-05-18
TAGS
Response quality
Questions & Answers
Q1
Partial Answer
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Context
The Regulatory Reform Group has published a report, and the Government has published 'Smarter Regulation to Grow the Economy' last week.
I thank the Minister for his answer and for the reforms published last week. He kindly mentioned the Regulatory Reform Group and our report last week. Will he carefully consider our recommendations in the report on the Government better holding regulators to account, and look at the proposal for an accountability framework that looks at key metrics, including competition, to judge their performance?
I read that with interest, and I spoke to my hon. Friend the Member for Hitchin and Harpenden about the matter. It is important that all regulators with responsibility for regulating and promoting growth continue to be held to account for delivering on those objectives. His proposed joint committee of Members of both Houses is for the House authorities to consider, but I note that in a regulatory system that already has a number of accountability mechanisms, adding another layer could risk more uncertainty rather than clarity.
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Assessment & feedback
The proposal for an additional accountability framework was not fully committed to due to concerns about added complexity.
Response accuracy
Q2
Partial Answer
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Context
Sky News has revealed soaring prices for infant formula, leading to parental distress and market concerns.
Leaving the cost of formula up to the market has resulted in soaring prices. Parents are stealing formula from shops, relying on baby banks and formula foraging on Facebook, while profits and marketing spends of the companies have soared. Will the Minister instruct the Competition and Markets Authority to investigate the sector to protect our younger citizens?
The CMA is an independent body that decides where it should intervene. We keep these matters under very close scrutiny. Competition is the best regulator. We have a very competitive market for the supermarkets with 14 regulated by the Groceries Code Adjudicator.
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Assessment & feedback
The specific ask to instruct CMA was not addressed; focus instead on existing regulatory mechanisms.
Changed Subject Entirely
Spoke About Competition And Existing Regulation
Response accuracy
Q3
Partial Answer
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Context
The Regulatory Reform Group has published a report, and the Government has published 'Smarter Regulation to Grow the Economy' last week.
What steps her Department is taking to improve the accountability of business regulators.
I am grateful to my hon. Friend for his fine work as part of the Regulatory Reform Group, which has just published a report. Last week the Government published 'Smarter Regulation to Grow the Economy', setting out our vision for the UK's regulation and how we can harness the opportunities that Brexit presents to re-think how and when we regulate.
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Assessment & feedback
Specific steps were not outlined, focused on publishing documents instead of concrete actions.
Discussed Procedure And Vision
Response accuracy