To ask Her Majesty's Government whether they intend to review their stance on regulation, having regard to the findings of the recent Department for Business, Innovation and Skills report on the benefits of regulation. [HL5877]

This Government have always recognised the benefits that regulations can bring when there is a clear need for intervention and the rules are designed and implemented in the right way. Given that regulatory changes bring costs for business and society we will continue to make prioritised choices on regulation.

This report shows through case studies how the Government's approach to better regulation can not only minimise costs but also maximise the benefits that necessary regulation brings to society. A range of stakeholders representing businesses, employees and consumers signed a joint statement with Government on 19 October (available via http://www.berr.gov.uk/files/file53233.ddoc. A copy is available in the Library of the House) setting out how better regulation approaches help deliver benefits and minimise costs.