On 8 July 2026, HM Treasury published ‘Regulation Action Plan Progress Report (July 2026)’ and ‘Update Against the Regulation Action Plan’s Key Regulator Pledges (May 2026)’.
Regulation Action Plan Progress Report
The executive summary to the Regulation Action Plan Progress Report notes that – “Over the past year, guided by the vision and commitments set out in the Regulation Action Plan, the Government has acted to overhaul the regulatory landscape so that it better supports growth. The programme is modernising regulation to drive growth, innovation and investment and support the Industrial Strategy; and at the same time maintain essential protections for consumers and deliver the positive outcomes communities across the country want to see. Where appropriate, we are working with the devolved governments in Scotland, Wales and Northern Ireland to support growth and innovation across the UK.”
Regulating for Growth Bill
The Progress Report also refers to a new Regulating for Growth Bill which is intended to modernise regulation for a fast‑moving economy, ensuring it supports growth, investment, and innovation while maintaining strong protections. The Bill will better align regulators with economic priorities and introduce new cross‑economy sandbox powers so businesses can safely test, refine, and scale cutting‑edge products faster. The Bill will also strengthen the existing Growth Duty to require regulators to actively support economic growth alongside their core responsibilities. It will create a clearer legal obligation, backed by statutory ministerial steers and new reporting requirements to improve transparency and accountability.
Update Against the Regulation Action Plan’s Key Regulator Pledges
The Update Against the Regulation Action Plan’s Key Regulator Pledges sets out a table providing an update on certain pledges UK regulators like the FCA and PRA have made and an update on progress. For example it refers to the pledge that the FCA will simplify its mortgage and advice rules to help more people access sustainable home ownership. The update provides that due to the FCA’s efforts as part of their Mortgage Rule Review, 85% of the market has changed how they test affordability and are able to offer around £30,000 more off the same income. In December 2025, the FCA set out next steps to reshape mortgage regulation. As part of that, in June 2026, the FCA published proposals to further support first-time buyers and underserved consumers.