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Detail of outcome
The government will allow a voluntary approach to co-operation. We will continue to review the UK Regulators’ Network, and will carry out a review of the effectiveness of the current approach in 2016.
Detail of feedback received
We received 23 responses from:
- firm in a regulated sector (12)
- energy (8)
- rail (1)
- communications (2)
- aviation (1)
- regulator (7)
- consumer body (1)
- consultancy (1)
- government (1)
- trade association (1)
Economic regulation, eg controlling prices and encouraging competition, is important to us. So are the benefits resulting from the independence of the regulators from government.
To further improve the UK’s model of independent economic regulation, the regulators have created a new UK Regulators’ Network (UKRN). This replaces the work of the previous Joint Regulators’ Group (JRG). We believe the UKRN marks a significant step forward from the JRG and could form the basis for effective co-operation between the regulators on important issues. We believe that this could lead to greater efficiency and better results for businesses, consumers and the economy.
We want to know your views on:
- how closer co-operation between regulators could lead to better results for business, consumers and the economy
- whether there are any barriers that inhibit closer working
- how we can best support and encourage the UKRN, and more widely help to embed co-operation between the regulators