Parliamentary Search

Written question asked by Baroness Hayman of Ullock (Labour) on Tuesday, 28 November 2023, in the House of Lords. It was due for an answer on Tuesday, 12 December 2023. It was answered by Lord Benyon (Conservative) on Thursday, 7 December 2023 on behalf of the Department for Environment, Food and Rural Affairs.

Ofwat: Economic Growth

Question

To ask His Majesty's Government whether they envisage any conflicts arising between the statutory duties of Ofwat and the revised Growth Duty, which was announced alongside the Autumn Statement; and if so, which duties should be prioritised.

Answer

As an independent regulator, Ofwat are well placed to balance their own decision making on statutory duties. This will include striking the right balance between competing pressures or duties, informed by an understanding of what approach might best support sustainable growth.

There may be instances where a regulator has considered growth and reached a view that other duties or objectives may take precedence. To support this, the proposed updated guidance for the Growth Duty assists regulators in considering the importance of economic factors and how to fulfil the Growth Duty.

Secondary information

Type
Written question
Reference
HL658
Session
2023-24
Subjects
Economic growth Ofwat
Link
View this Written question on www.parliament.uk