Joined House of Lords: 10th October 2005
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These initiatives were driven by Baroness Valentine, and are more likely to reflect personal policy preferences.
Baroness Valentine has not introduced any legislation before Parliament
Baroness Valentine has not co-sponsored any Bills in the current parliamentary sitting
Well-designed and well-implemented regulation has an essential role in unlocking investment and innovation. In the Action Plan, the Government is clear that the cumulative burden of regulation has grown to disproportionate levels, fuelling complexity and uncertainty; and that excessive baked-in risk-aversion and unpredictable regulatory processes can negatively impact growth.
The Government is addressing these challenges by bringing the administrative burden of regulation down by 25 per cent; increasing the strategic alignment between the Government's objectives and regulator activity; and backing regulators to challenge excessive risk aversion across the system.
To ensure regulation keeps pace with technological change, the Business Secretary will soon legislate for our new ‘Growth Labs’. This is a new approach to regulation, with the power to make rapid, temporary amendments to regulation to safely test and prove application of new tech.