Report

Regulating for growth

This report from UK think tank the Centre for Policy Studies argues that the UK needs to reassess its culture of regulation.

‘Regulating for Growth’ by CPS Head of Tech and Innovation Matthew Feeney argues that an overzealous and antiquated attitude to regulating emerging technologies is impeding the UK’s ‘tech superpower’ ambitions. This culture of regulation will see the UK lose out on new jobs and economic growth.

The report looks specifically at the history of a number of technologies, and the regulatory obstacles they faced. For example, it shows how regulations are hampering the use of drones for spreading fertiliser or energy firms using drones to monitor and maintain offshore wind turbines.

It argues that the UK needs to reassess its culture of regulation. In particular, each regulator should adopt a ‘policy charter’ setting out the harms it seeks to regulate. As part of this, permissionless innovation should become the default – and to keep regulation up-to-date, all legislation should include a ‘best-before date’ at which point it should be reviewed and either scrapped or amended depending on its usefulness.