The House of Lords Industry and Regulators Committee, chaired by Baroness Taylor of Bolton, has issued a call for evidence for its new inquiry into the relationship between regulators and economic growth, in light of the Government’s ambition for regulators to support investment and innovation and drive growth.

The Committee is seeking evidence from regulators, economists, academics, industry experts, consumers, campaigners and other relevant stakeholders on a number of questions, including:

• What is the role of regulators in supporting and promoting economic growth?
• What barriers, if any, are regulators putting in the way of economic growth?
• How are regulators expected to balance the growth duty with their other objectives?
• Is it possible to make regulatory processes quicker and cheaper while maintaining the same level of protection to the public and the environment?
• Do regulators have the resources they need to be able to adequately support growth and innovation in general, and through specific measures such as proposed “fast lanes”?
• Can regulators work together where needed, and do they act to avoid duplication or inconsistency in how they regulate?
• Are regulators using data, digital technology and artificial intelligence to improve their efficiency and productivity?
• How do UK regulatory systems compare to others internationally? Who should the UK look to for good practice in regulatory design and operation?

The Industry and Regulators Committee considers matters relating to industry, including the policies of His Majesty’s Government to promote industrial growth, skills, and competitiveness, and to scrutinise the work of UK regulators.

In a 2024 report, the Institute for Government identified that there are 116 regulators in the UK.

Many regulators are already required by legislation to consider the impact of their activities on economic growth. For instance, the Deregulation Act 2015 requires many bodies exercising regulatory functions to “have regard to the desirability of promoting economic growth” when performing their functions, which is often referred to as the ‘Growth Duty’. In 2024, the Government extended the Growth Duty to Ofwat, Ofgem and Ofcom.

Baroness Taylor of Bolton, Chair of the Industry and Regulators Committee, said:

“The Government has indicated its view that regulation can be an essential tool to promote growth and investment and to address economic, societal and environmental risks.

"The Committee wants to gather evidence on the role of regulators in relation to economic growth, how any changes to further prioritise growth might impact on their other duties and responsibilities, and how regulators are responding to the Government’s Action Plan on regulation.”

Click here to access the complete list of questions, plus details how to submit evidence by the deadline of Friday 9 January 2026, on the Committee’s website.