Regulators should be made answerable to a specialist UK parliamentary committee, according to a group of Conservative MPs and peers.
In a report published on Friday, the Regulatory Reform Group said that Britain had an overly complex, inconsistent regulatory regime and watchdogs were not sufficiently accountable to the public
This lack of accountability has led to poor oversight that has left households grappling with high energy bills, passengers stranded at airports last summer because of air traffic control problems and small businesses facing difficulties opening bank accounts, the report claimed.
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