15:41 The Parliamentary Under-Secretary of State for Business, Energy and Industrial Strategy (Paul Scully)

We consulted on reforming the better regulation framework, and the Government do not think that a one in, two out rule—or whatever number out—is consistent with delivering world-class regulation to support the economy in adapting to a new wave of the technological revolution or in achieving net zero, so we want to reduce costs to business wherever we sensibly can do so and regulate only where strictly necessary. We intend to do that by looking at the merits of each case rather than using the one in, two out system, and we plan to change the better regulation system so that it will do that. However, it is very important that we get the balance right.

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