Growth Duty
A statutory mandate for UK regulators to prioritize economic growth without compromising core protections.
How the laws define this
Both descriptions frame the Growth Duty as an obligation requiring regulators to evaluate economic growth when making decisions. In the context of the UK, the first definition from the Regulating for Growth Bill presents the duty as a legal requirement for regulatory bodies to actively promote economic growth while balancing this goal with primary obligations to protect consumers, workers, and fundamental rights, thereby fostering a pro-innovation environment. The second definition from the Regulating for Growth Bill diverges by focusing on certain regulators, framing the duty as a statutory obligation to consider growth impacts that the bill seeks to strengthen using a clearer mandate and additional legal measures. While both instruments center on the Regulating for Growth Bill, they differ in scope and detail: the UK provision details specific protections that must be balanced alongside growth, whereas the secondary phrasing emphasizes enhancing the mandate's legal framework without explicitly referencing the UK jurisdiction or worker and consumer protections.
Synthesised from the 2 statutory definitions below. Each one is quoted in full, with its source.
What it triggers
- Under the United Kingdom Regulating for Growth Bill, regulatory bodies must consider and promote economic growth when making decisions and carrying out their functions.source
- Under the United Kingdom Regulating for Growth Bill, regulatory bodies must balance their Growth Duty with primary responsibilities to protect consumers, workers, and fundamental rights.source
Definitions (2)
The Growth Duty is a legal requirement for regulatory bodies in the UK to consider and promote economic growth when making decisions and carrying out their functions. This duty is balanced with their primary responsibilities to protect consumers, workers, and fundamental rights, aiming to foster a pro-innovation regulatory environment.
A statutory obligation for certain regulators to consider the potential impacts of their decisions on economic growth, which the Regulating for Growth Bill aims to strengthen by providing a clearer mandate and additional legal measures.
Questions and answers
What is the Growth Duty under the Regulating for Growth Bill?
The Growth Duty is a legal requirement for UK regulatory bodies to consider and promote economic growth in their decisions and functions. It is balanced against their core duties to protect consumers, workers, and fundamental rights.
How does the Growth Duty affect UK regulators?
UK regulators must prioritize economic growth without compromising their primary protections under the Growth Duty in the Regulating for Growth Bill. This aims to create a pro-innovation regulatory environment.
What does the Regulating for Growth Bill say about the Growth Duty?
The Regulating for Growth Bill strengthens regulators' statutory Growth Duty. It establishes this duty alongside cross-economy sandboxing powers for AI trials.