(1 year, 9 months ago)
Commons ChamberWe are committed to bringing forward a consultation in the coming months on proposals to reform our approach to economic regulation in the utilities sector. This will include the outcomes of our review of the regulators’ statutory duties.
I welcome the bright and shiny new ministerial team to their roles, and I urge my right hon. Friend the Secretary of State, as the new broom, to get this moving a lot faster. Some economic regulators are too expensive, too slow and too soft, so could we use the upcoming competition Bill to refocus them on sharper competition so that consumers get better deals and fewer rip-offs, because otherwise we will miss the best opportunity for years?
My hon. Friend is quite right. As set out in our policy paper, the duties and functions of Ofwat, Ofcom and Ofgem have significantly expanded since privatisation. I agree that the Bill would enable us to move more quickly, and I would like to work with him to see what we can do to improve regulation more broadly.
(3 years, 1 month ago)
Commons ChamberBuilding trust between different communities and the institutions that serve them was a central theme of the report by the Commission on Race and Ethnic Disparities. We will respond to the report shortly, setting out our plans for building back fairer, and I can assure my hon. Friend that his concerns will be at the heart of our response.