The UK Principles of Better Regulation
Five principles were identified by the Better Regulation Task Force in 1997 as the basic tests of whether any regulation is fit for purpose.
- Proportionality
- Regulators should intervene only when necessary. Remedies should be appropriate to the risk posed, and costs identified and minimised.
- Accountability
- Regulators should be able to justify decisions and be subject to public scrutiny.
- Consistency
- Government rules and standards must be joined up and implemented fairly.
- Transparency
- Regulators should be open, and keep regulations simple and user-friendly.
- Targeting
- Regulation should be focused on the problem and minimise side effects.
New legislation, a Legislative and Regulatory Reform Bill, has been introduced in 2006 to establish statutory principles of good regulation based on the work of the task force. The law will oblige regulatory bodies to have regard to the principles and a code of practice.
Read more about this topic: Better Regulation Commission
Famous quotes containing the words principles and/or regulation:
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