building for thefuture:howbetter regulation can maketheuk amagnet forinvestment key takeaways froman investor andregulatorroundtable the uk regulators network (ukrn), a group formed by the key sector regulators, and the globalinfrastructure investor association (giia), a membership body for the world's leading investors ininfrastructurehavediscussedways in which independent economic regulationcansupport investment andcreate economic growth. economic growth is the number one mission of the uk government. to achievesustained economicgrowth, significant international and domestic challenges need to be overcome. to name a few, the uk willneed to: ●successfully navigate the unprecedented international economic environment●replace and modernise much of its core infrastructure to create a more sustainable and resilienteconomy●invest in ways to create improvements in the uk’s productivity with constrained public spending, the uk needs to attract private capital to fund the investmentthat willmeet these challenges. independent regulation, particularly in key infrastructure sectors,plays animportant part in shapingthe uk’s overall attractiveness to overseas investors. currently,several ofthe uk’s economic regulators are subject togovernment-led reviews aimed atensuring that the uk regulatory system supports innovation and economic growth,while ensuringaccountability for the quality of regulations introduced. while thishas createduncertainty, it also presents a valuable opportunity to reflect on what’s working and what can be done to improve the uk’s regulatorysystem. the following key takeaways emerged from the discussion: (1)there were a range of views around the overall attractiveness of the uk forinfrastructure investment compared to other countries, but broad agreement thatthe uk has some important long-term strengths on which to build going forward. various factorsare identified as impacting upon current investor sentiment towards the uk,including: a long period of relative political instability, the experiences of investors in the watersector, and the perceived increase in politicisation of the regulated utility sectors. set against this, thereis strong support for the inherent strengths of the uk, including its legal andregulatory system, and the use of mechanisms such as the regulated capital value model.many‘competing’ jurisdictions have modernised their own legislative and regulatory frameworks, catchingup with the uk’sstandingon these traditional strengths. overall, it is important to distinguish between the uk’s historical attractiveness and the impact ofmore recent trends. while the uk was once seen as a clear leader in its regulatory approach,growing global competition means it can no longer rely on legacy perceptions. perceptions can shiftquickly, and there was broad agreement that the uk government’s recent focus on growth andinfrastructure investment is a step in the right directionand tat consistency ofapproach and acontinued willingness to engage will be key. (2)there are opportunities to improve the uk regulatory system, building on strongfundamentals independent regulation was seen as an important source of stability over time for investors,andaway to secure fair access to important markets and infrastructure.nevertheless,there areopportunities to improve how the uk’s independent regulators work, including: ●simplifying regulators’ duties●ensuring greater consistency of how appeals workacross sectors●sharpening up administrative processes to deliver more efficient decision-making furthermore, there was discussion of how the government can use ‘strategic steers’ to helpregulators balance and trade-off their duties. there was a sense that focused, specific guidancewas much more effective than a long list of areas that governments support. the opportunities jointly identified by the ukrn and giia are consistent with the recommendationsset out by fingleton in its report forgiiahow regulatory change can help drive the uk’s growthagenda?, published in january 2025. (3)the focus provided by thegovernment’s growth agenda makes it a good time towork together to deliver on the significant sharedinterests ofinvestors andregulators while there may be different views on individual regulatory decisions, there was strong support forthere being a lot of alignment in the long-term objectives of government, regulators and investors. the complexity of regulatory processes can make it hard for investors to know when to engagewith regulators on new ideas,and when the debate has shifted to detailed decisions andimplementation. to address this issue, there was strong support for finding more opportunities forinvestors and regulators to share views and solve common problems.