Member

Additionally, the Secretary of State will have the opportunity to set out additional data in the annual report that they publish on the statement of strategic priorities. While the statement of strategic priorities will only be finalised following consultation of the draft with regulators and subject to parliamentary approval, my expectation is that it will contain objectives relating to how regulators oversee and implement effective incident reporting, which I will come on to shortly. The annual report would, therefore, be a natural forum in which to collate and share the insights that regulators have gleaned. Based on these considerations, I would argue that no further additional reporting is necessary.