The ASI's regulation supremos, Keith Boyfield and Tim Ambler, have published a new briefing paper as part of our Regulatory Monitor project, entitled Stemming the growth of UK regulatory agencies.
The ultimate objective is to merge all the existing regulatory agencies into a single Fair Trade Authority, which would be formally responsible to parliament and which would intervene only to ensure free, competitive markets. A great deal of the regulation aimed at protecting the consumer could be left to the courts, while the greater use of market mechanisms, such as mandatory insurance, would serve to improve standards.
Britain must get off the back foot in EU negotiations and positively advance its own vision of what the EU should be like. While other countries vigorously promote federalism, Britain is reduced to being a permanent critic - the Grumpy Old Man of Europe. Instead Britain should be linking with other countries to advance its vision of a common market, open trade, cost-consciousness, better decision-making, and deregulation. These goals would be as good for the whole of Europe as they would be for Britain. Instead of a fruitless debate about pulling out of the EU, we should be striving to end protectionism and make it a paragon of open markets, free trade, and efficient administration.