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The smile on the face of the Tiger

Tiger, or rather TIGRR (Taskforce on Innovation, Growth and Regulatory Reform ) was a “task force” or ginger group set to work by No. 10 at the beginning of the year that produced a timely and challenging report in May. To continue the metaphor, the Tiger has rampaged all over the stuffy and dysfunctional world of regulation, sniffing out and chewing up bad approaches and silly practices including those left over from the EU. TIGRR was led by a triumvirate of experienced Parliamentarians, and they have done a great job. Read it for yourself.

Why does the Tiger smile ? Because the Government has picked up the majority of TIGGR’s recommendations to run with them. In late July, the Secretary of State for Business, Energy and Industrial Strategy (BEIS) published a consultation on Reforming the framework for Better Regulation, running till 1 October. It sets out a sensible direction of travel, giving prominence to proportionality and effectiveness. Much in the BEIS document is in line with what the BSA has already publicly advocated. So we can smile with the Tiger !

Although most of the specific regulation to which BSA members are subject is covered by the Treasury’s Future Regulatory Framework Review, major policy areas that affect us (such as audit and governance) do fall under the oversight of BEIS. And BSA members are subject to all the usual range of regulations affecting any business across all sectors. So we welcome this consultation initiative both for the direct benefit in certain policy areas, and for the strong signal that it gives to official authorities and regulators. And the principles involved are so important and necessary that we are submitting a formal response. You can, too – there’s still time. Make the Tiger happy……

Posted by Jeremy Palmer on 26 August 2021