Correspondence

Driving growth through world class, smarter regulation

The government outlines potential approaches to Growth Duty reporting in this letter from the Chancellor and the Secretary of State for Business and Trade to regulators in scope of the Growth Duty, and to Ofgem, Ofwat and Ofcom.

• From: HM Treasury and The Rt Hon Jeremy Hunt MP
• Published: 22 November 2023

This was published under the 2022 to 2024 Sunak Conservative government

Documents

Letter from the Chancellor and Secretary of State for Business and Trade to regulators

PDF, 140 KB, 4 pages

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Details

The letter from the Chancellor and Secretary of State for Business and Trade is addressed to regulators within scope of the Growth Duty and to Ofgem, Ofwat and Ofcom. Following today’s Autumn Statement announcements, the letter highlights a consultation has been published on strengthening economic regulation and on measures to strengthen the regulators’ Growth Duty, setting out how regulators can support economic growth alongside, or as part of, their other duties. The letter sets out details of a potential approach, subject to consultation, that could entail regulators publishing a report every year that includes a Growth Duty statement and Growth Duty performance metrics.

Published 22 November 2023