Regulators must consider costs says Heseltine

All regulators should have an “obligation... to take proper account of the economic consequences of their actions,” according to Lord Heseltine’s economic review published on 31 October.¹

Regulation does not in itself hinder growth, he says, but “the point is that good regulation strikes a proper balance”.

The review does not explain how any obligation would be different from current requirements to take account of economic costs and benefits in impact assessments, or how it would affect any specific body such as the Environment Agency, the Forestry Commission and the Drinking Water Inspectorate.