The Treasury

Global Navigation

Personal tools

Overall Conclusions and Recommendations

21. The indicative packages of measures outlined above represent different levels of ambition. In each case the level of achievable benefits is uncertain, but we think the risks and costs can be managed so they do not exceed the benefits achieved.

22. It may not matter too much which combination of measures is pursued, but we do recommend a conservative approach to specifying requirements in legislation initially. By trialling more ambitious disclosures as administrative requirements in the first instance, we minimise the risk of locking in unworkable or low value provisions, and improve our ability to manage the level of costs incurred if the disclosure statement approach is less successful than hoped.

23. Legislation offers not only a credible and durable commitment, but also a good foundation around which a range of non-legislative measures can be introduced.

24. Sticking with the status quo is an option, but the underlying concerns that have driven demand and support for a Regulatory Standards Bill would remain, and would be likely to reappear in the form of new proposals before too long.

Page top