Body urged to co-ordinate regulators

A SINGLE body is necessary to co-ordinate the work of state-appointed regulators of the telecom, energy and aviation sectors, employers group IBEC said yesterday.

IBEC director general Turlough O’Sullivan said businesses were suffering from the extra costs associated with regulation and that there would be “significant benefits” if the regulators were brought under a single umbrella group. IBEC wants a streamlined National Regulation Commission, which would pool existing resources of individual industry regulators, eliminate duplication of work and streamline activities to make the overall regulatory process more efficient.

Such a commission would also monitor the performance of each regulator and conduct regular checks to see that the cost of having a body in place was worth the benefits it brought. IBEC said ComReg, the communications regulator, as well as the Commission for Energy Regulation and the Commission for Aviation Regulation, would be candidates to join the new body. IBEC said in the past too much regulation imposes unnecessary expenses on business and ultimately costs jobs.