Regulating Risk for Growth: The many faces of Janus

This perspective examines the evolving landscape of risk regulation, particularly within the UK, where a governmental shift towards prioritising economic growth is underway. It explores the tension between safeguarding society through regulation and the fostering of economic outcomes. This tension manifests itself as ‘Janus faced’ with risk regulation simultaneously tryng to balance what has gone before, with what may come. The perspective revisits the precautionary principle, arguing it can lead to ‘precautionary iatrogenesis’, stifling innovation and growth. It calls for a broader discussion within the risk research community about the appropriate balance between risk and growth, emphasising the need to consider risk/risk tradeoffs and the unintended consequences of excessive precaution.