Regulatory Innovation Office

that they're trying to do regulation differently.

And the sort of emblematic part of that would be the Regulatory Innovation Office run by David Willits, which is looking across sectors about how we can make regulation more enabling of change and economic growth.

Now, regulation is really, really important sometimes at stopping things because and guarding against failures.

So if we look at markets, markets are efficient, but they can also have unintended effects or market failures.