What's on the horizon? | Breakthrough Funding

Friday, March 6, 2020

What's on the horizon?

The UK government is looking to the future with a new regulation advisory council

A new committee has been set up to advise the government on how to remove regulatory barriers to innovation.

Designed to support UK industries while also safeguarding the public, the Regulatory Horizon Council will look to identify emerging products, services and business models and recommend regulatory reform, in order to help drive innovation forward.

The council was a key recommendation from the white paper on Regulation for the Fourth Industrial Revolution. Cathryn Ross, group regulatory affairs director at BT, has been appointed as its first chair.

Going forward, the council will work with businesses, academics, innovators and regulators to spot technological trends and support the UK in its aim of becoming the most innovative place on the planet.

“The government is determined to make the UK the best place in the world to do business and a key part of that is getting our regulations right,” said business minister Nadhim Zahawi. “We already have a thriving tech sector, worth £184 billion to the economy every year, and this council will help supercharge this sector through more agile regulations.”

Cathryn Ross added: “The council will play an important role in ensuring an outcome-focused and flexible regulatory system in the UK. Our aim will be to enable innovation to thrive while protecting citizens and the environment.”

This should be good news for innovators in the UK who are already embracing the tech concepts of tomorrow, yet can see potential regulatory hurdles in the road ahead.

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