Ofqual's approach to the Growth Duty
This document sets out our approach to the Growth Duty.
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In March 2017 the Growth Duty (set out in section 108 of the Deregulation Act 2015) came into force for a number of UK regulators, including Ofqual. The Growth Duty requires us to:
- have regard to the desirability of promoting economic growth when exercising our regulatory functions
- as part of this, consider the importance for the promotion of economic growth of exercising regulatory functions in a way which ensures action is only taken when it is needed, and that any action taken is proportionate