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UK Finance strongly support the new secondary objective to facilitate economic growth and competitiveness and welcome HMT’s call for proposals on metrics for measuring the regulators’ performance against it.
We think the regulators should estimate and track the ‘regulatory burden’ imposed by their rules and be particularly mindful of the volume of new regulatory requirements that they introduce at a given time. It is also vitally important that they compare their implementation of international standards against the rest of the world, as this had a significant bearing on the competitive position of UK-based firms.
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05.07.23
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