National Audit Office

Regulators good value for money?

Today Programme

BBC Radio 4

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Four major UK regulators - Ofwat, Ofgem, Ofcom and the FCA - need to do more to prove they are offering enough protection to those who need it, according to National Audit Office.

Charles Nancarrow, who wrote the report for the spending watchdog, told BBC 4's Today Programme that it was a "difficult question to answer" whether they were good value for money.

“They need to define what overall success looks like so that they can measure their progress against that so consumers are be clear what to expect from providers and the public and citizens can clear about whether the regulators are performing well or not'".