Margaret Beckett

Review of Regulators For Gas, Electricity, Water and Telecom

Speaking at the Utilities 2000 conference, Mrs Beckett told delegates the review would look at whether changes were needed to the existing system of regulation. The first regulators for privatised utilities were put in place 13 years ago, and Mrs Beckett said it was "now time to take stock".

She insisted that this was not a move towards Government control of the privatised utilities. But as these companies were "in a unique position" it was necessary to balance the needs of consumers and shareholders, and to weigh competitiveness against regulation.

Mrs Beckett was keen to distance the review from the planned Windfall Tax, which will be included in the Chancellor's budget later this week. "The Windfall Tax is about the past. The focus and purpose of this review is to look to the future," she said.

The Tory's Shadow President of the Board of Trade, John Redwood, said that Mrs Beckett had threatened successful businesses with "more regulatory hassle" and that he believed it was her intention to impose more burden on business.