The House of Lords Industry and Regulators Committee will hear more evidence from regulators this morning on how on how they support economic growth in its ongoing inquiry into the relationship between regulators and economic growth.

The Committee will hear from Ofcom, the Competition and Markets Authority and the Medicines and Healthcare products Regulatory Agency on how they have reacted to the Government’s desire for them to enable economic growth, investment and innovation, and question whether decisions on the balance between innovation and regulatory protections should be taken by the Government or regulators.

In particular, the Committee will question how regulators are acting to meet the Government’s target to reduce the administrative costs of regulation by 25%, and how regulators could behave in a less risk-averse way.

Witnesses appearing before the Committee to give oral evidence from 10:00am this morning are as follows:

• Sarah Cardell CEO at Competition and Markets Authority (CMA)
• Lawrence Tallon CEO at Medicines and Healthcare products Regulatory Agency (MHRA)
• Dame Melanie Dawes Chief Executive at Ofcom

Possible questions the Committee will put to the regulators include:

• Has the Government provided clarity on what growth would look like for your regulatory framework, including how this might impact on protections for the public?
• How do you balance the need to provide a predictable, stable regulatory framework with the desire to respond flexibly to new technologies and opportunities?
• What is your approach to risk, and how is this changing as a result of the Government’s desire for regulators to be less risk-averse?
• How are you responding to the challenges and opportunities of new technologies such as AI, both in the sector you regulate and in how you regulate?

Click here to watch the evidence session live on ParliamentLive TV or catch up later