The background to the TIGRR’s mission is set out in its terms of reference:
‘The UK has a hard-won reputation as a great place to set up and scale a business due to its stable and predictable regulatory environment, competitive product and labour markets and dynamic financial sector. But the UK’s exit from the EU with a new Trade and Cooperation Agreement presents us with new opportunities to redesign or change how we implement regulation across the economy. As the Government seeks to reignite the economy to help it recover from the impacts of Covid, we should consider all the options available to us to stimulate business dynamism and innovation, ensure that our markets are open and competitive and that businesses can scale up unencumbered by any unnecessary administrative burden.’
The TIGRR’s key purpose and objectives are defined in the context of the options and opportunities associated with the UK’s ‘newfound regulatory freedoms’.
‘In particular:
• Opportunities which could drive innovation and accelerate the commercialisation and safe adoption of new technologies, cementing the UK’s position as a global science and technology superpower.
• Opportunities to reduce barriers to entry in specific markets and make markets more dynamic and contestable across the economy.
• Opportunities to reduce administrative barriers to scaling up productive businesses; and to tailor any necessary processes to the needs of UK start-ups and SMEs while maintaining the Government’s commitment to high environmental standards and worker protections.
• Opportunities to improve small business’ experience of necessary regulatory requirements.
• Sectors of the economy or regulatory frameworks which should be prioritised for further regulatory deep dives.’
Reforming regulatory implementation and reducing administrative burden for business are key drivers.
For submissions on opportunities to drive growth and innovation through regulatory reform, contact tigrr@cabinetoffice.gov.uk.
For further detail on the TIGRR, see: GOV.UK—Policy paper: Taskforce on Innovation, Growth and Regulatory Reform (TIGRR) Terms of Reference.
What’s next?
The TIGRR is expected to report back to the Prime Minister in April 2021 so that the proposals can be considered alongside the government’s broader economic growth and regulatory agenda.
This content was first published by LNB News / Lexis®Library, a LexisNexis® company, on 3 February 2021 and is published with permission. Further information can be found at: www.lexisnexis.com
Source: GOV.UK—Policy paper: Taskforce on Innovation, Growth and Regulatory Reform
