Regulatory failures have shaken public trust and undermined UK
economic resilience.
From pensions scandals to leaking water pipes and rivers running
with sewage to collapsing energy firms, the UK's national
regulators are under fire.
This week, the Business and Trade Committee interrogates whether
regulators like the FCA, Ofgem, Ofwat, and the CMA are fit to
deliver on a bold new government mandate to “regulate for
growth”.
They'll be joined by minister Justin Madders MP and to ask: can these
institutions really balance their duties to protect the public
and the environment, enforce fair markets - and now to drive
economic productivity?
The Government's ambition is clear: regulators must promote the
conditions that attract investment and boost growth. But concerns
are mounting. The former CMA chair stood down reportedly over a
lack of “growth focus”, reflecting wider unease. A 2022 survey
found nearly half of UK businesses saw regulation as a barrier to
success—up sharply from just two years prior.
Now the Committee is asking:
- Are regulators equipped and resourced to meet this new
mission?
- Do they have the expertise to balance competing priorities in
environmental and consumer protection with economic growth?
- And if not, what must change to restore confidence and unlock
the UK's potential?
Rt Hon MP, Chair of the Committee,
said: “The truth is this: Britain cannot afford
regulators who are merely paper tigers.
“Our energy markets are broken, our waterways are polluted,
our financial watchdogs have missed scandal after scandal—yet
these are the very people now tasked with regulating for economic
growth.
“So our session this week will examine whether regulators are
getting the balance right. If they're not, it's time for serious
reform. Because in today's global race for investment, strong,
smart regulation isn't a luxury: it's an economic
imperative.”
On Tuesday 15 July from
2:30pm:
- Sarah Pritchard, ED Consumers, Competition and International
and Deputy CEO at Financial Conduct Authority
- Sarah Cardell, Chief Executive at Competition and Markets
Authority
- David Bailey, Executive Director, Prudential Policy at
Prudential Regulation Authority (Bank of England)
At approximately 3:15pm:
-
, Chief Executive at
Ofgem
-
, Chief Executive at
Ofwat
- Jo Nettleton, Chief Regulator at Environment Agency
At approximately 4:00pm:
-
Justin Madders MP,
Minister for Employment Rights, Competition and Markets at
Department for Business and Trade
