PBR: FSA to be assessed on regs and 'value-for-money'

In chapter three of the Pre-Budget Report – Meeting the productivity challenge – the Treasury says it is speeding up implementation of the Hampton report, which recommends a more efficient and risk-based approach to regulation. The report states: “To achieve this, the National Audit Office (NAO) will work with the Better Regulation Executive (BRE), regulators and business to develop a process of external review of regulatory performance. The assessment process will focus on a regulator’s adherence to the Hampton principles and encourage continuous improvement.” The report says all maj...