Smarter regulation: regulating for growth
- From:
- Department for Business and Trade
- Published
- 22 November 2023
- Last updated
-
1925MarchApril 2024 — See all updates
Download the full outcome
Draft Growth Duty: statutory guidance (pending parliamentary approval)
PDF, 423 KB, 37 pages
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Government response to the Regulating for Growth consultation
PDF, 343 KB, 33 pages
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Explanatory memorandum for the Growth Duty statutory guidance
PDF, 165 KB, 4 pages
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Detail of outcome
Summary of responses received, the government’s response to the consultation, and the next steps.
The draft ‘Growth Duty: Statutory Guidance Refresh’ was approved by Parliament on 23 April 2024 and has been issued by the Secretary of State for Business and Trade. The growth duty page on GOV.UK will be updated in due course with the issued guidance and coming into force date.
Original consultation
Summary
We’re seeking views on revised statutory guidance for the growth duty.
This consultation was held on another website.
This consultation ran from
to
Consultation description
As part of the requirement that regulators must have regard to the Growth Duty, regulators must consider the provisions of the statutory guidance. Changes have been proposed that will ensure regulators are clear on what is expected from them when making regulatory decisions under the Growth Duty.
This consultation seeks views on the revised statutory guidance for the Growth Duty. This includes views on the drivers and behaviours of economic growth identified in the guidance, alongside additional questions on reporting on the Growth Duty and improvements to the regulatory process.
We are seeking responses from regulators in scope of the Growth Duty and any other interested stakeholders.
The government has outlined potential approaches to Growth Duty reporting in this letter from the Chancellor and the Secretary of State for Business and Trade to regulators in scope of the Growth Duty, and to Ofgem, Ofwat and Ofcom.
Documents
Consultation on the Growth Duty, draft statutory guidance
PDF, 393 KB, 23 pages
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Growth Duty: statutory guidance refresh
PDF, 346 KB, 35 pages
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Last updated
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The draft 'Growth Duty: Statutory Guidance Refresh' was approved by Parliament on 23 April 2024 and has been issued by the Secretary of State for Business and Trade. The growth duty page on GOV.UK will be updated in due course with the issued guidance and coming into force date.
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Consultation‘Consultationdocumentonupdated,thewrongGrowthdocumentDuty, draft statutory guidance’ PDF re-added to the page after it waspreviouslyreplacedattached.in error on 21 February 2024. -
Growth Duty government response document split into three documents which include, the government response, draft guidance from the annex of the government response, and the explanatory memorandum for the statutory guidance.
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Government response document updated to include an update to the first footnote on page 38.
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Summary of responses received, the government’s response to the consultation, and the next steps have been added to the page.
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First published.
Update history
2024-04-25 14:23
The draft ‘Growth Duty: Statutory Guidance Refresh’ was approved by Parliament on 23 April 2024 and has been issued by the Secretary of State for Business and Trade. The growth duty page on GOV.UK will be updated in due course with the issued guidance and coming into force date.
2024-03-19 10:27
Consultation document updated, wrong document was previously attached.
2024-03-14 16:18
Growth Duty government response document split into three documents which include, the government response, draft guidance from the annex of the government response, and the explanatory memorandum for the statutory guidance.
2024-02-29 10:12
Government response document updated to include an update to the first footnote on page 38.
2024-02-21 17:15
Summary of responses received, the government’s response to the consultation, and the next steps have been added to the page.
2023-11-22 13:30
First published.