- All regulators to be independent of government and to report to the relevant select committees of the House of Commons.
- All regulators to return, so far as possible, to their original economic role leaving social issues to government.
- They should publish annual targets and performance against those targets.
- All regulators to have until 2017 to wind themselves up and be replaced by a combination of competition, self regulation and the OFT. The successor self regulation bodies to be independently chaired with a strong audit back up. If the deadline is missed, a new wind-up plan to be agreed with the select committee.
Creating new regulations
- All EU-sourced regulation to be challenged early enough for issues to be considered by UK Government, Parliamentary EU Scrutiny Committees and EU Commission.
- All non-EU sourced regulation via secondary legislation (i.e. by Statutory Instrument) to cease until a robust new system is in place, probably 12 months. Thereafter the relevant select committees to review their IAs, satisfy themselves that alternatives have been thoroughly considered and why the UK needs a regulation if the rest of the EU does not. In the light of that they should.
- Before this moratorium ends, all significant post-implementation reviews (PIRs) for 2000-2007 to be completed and published.
- ‘Sunset’ clauses and PIRs required for all new UK-sourced regulations. In the case of EU-sourced regulation, sunset dates to be recommended.
- The regulatory quangos (specifically the Sub-Committee of the National Economic Council , Regulatory Policy Committee and the Local Better Regulation Office) to be wound up.
- SIs to distinguish legislative (regulations) by numbering and paper colour.
- A blanket “sunset clause” for all non-EU regulation department by department three years from onset of the clause. Better Regulation Executive to assist in the process of sieving out regulations to be retained following the above procedures. See BCC Déjà Vu report.
Implementation and supervision
- Small and medium-sized companies to be allocated one stop shops, if they wish, for all inspections and interpretation of regulation - analogous to the Primary Authority concept pioneered by LBRO for multi-location companies.