Source · Select Committees · Business and Trade Committee
Recommendation 7
7
Deferred
Paragraph: 52
Lifelong Loan Entitlement demonstrates transformative potential for retraining and upskilling.
Conclusion
We agree that the proposed Lifelong Loan Entitlement has the potential to be “transformative” in encouraging retraining and upskilling and ask the Government to conduct a review of the scheme one year after its commencement and to report its findings to this Committee.
Government Response Summary
The government's response discusses AI regulation capabilities and central monitoring functions, completely unrelated to the Lifelong Loan Entitlement review requested by the Committee.
Paragraph Reference:
52
Government Response
Deferred
HM Government
Deferred
The white paper on the regulation of AI acknowledged the importance of ensuring all regulators have the capabilities they need to regulate AI effectively in line with the principles-based framework. It outlined a number of potential capability gaps that have been identified through our previous research, including those relating to technical, regulatory and market-specific expertise and organisational capacity. The white paper proposed a set of central functions to oversee, support and bring coherence to the effective implementation of the framework by regulators within their existing enforcement capabilities and legal powers. As set out in the white paper, the Government will work with regulators to identify how regulators’ work—including data collected from their own regulatory activities—can support the proposed central monitoring and evaluation function in order to ensure the best outcomes for the whole economy. 3 https://www.postofficehorizoninquiry.org.uk/ 4 https://www.gov.uk/guidance/rules-and-practice-directions-2020 5 https://www.lawcom.gov.uk/14th-programme-kite-flying-document/#ProceduralEfficiency Post-pandemic economic growth: UK labour markets: Government Response 9 As part of the ongoing consultation on the white paper proposals, government is working closely with regulators and other expert organisations (such as the Alan Turing Institute) to assess respective levels of need and pinpoint the most effective ways to improve regulator access to expertise. We recognise that levels of need vary considerably across the regulatory landscape and options to support upskilling will need to reflect this variation, as well as the increasingly central role that the AI is coming to play within all regulated sectors and activity. over new technologies.