Government policy on the management of risk: 5th report of session 2005-06, Vol. 1: Report: House of Lords Papers 2005-06, 183-I. Vol. I Report: Amazon.co.uk: Great Britain: Parliament: House of Lords: Select Committee on Economic Affairs, Lord John Wakeham Wakeham, Lord Wakeham: Books

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In recent months, a number of Government ministers, including the Prime Minister, have raised concerns that Britain is becoming an increasingly risk-averse society with the growth of disproportionate public attitudes to the risks we should expect to run as a normal part of life; and that this unbalanced attitude towards the management of risk is having a detrimental impact on public policy including the emergence of a compensation culture in which people are encouraged to attach blame and seek compensation for harmful outcomes that should more properly be regarded as the fault of no one. In light of these concerns, the Committee's report examines the scale of the problems that have been highlighted and assesses whether government policy deals with risk in an informed, balanced and consistent manner. It includes two case studies which focus on the risks of passive smoking and issues of road and rail safety. Findings include there is no significant evidence to support the widely-held view that Britain has become an increasingly risk-averse society or the development of a compensation culture, although the Committee notes its concern that public sector reward and assessment systems may emphasise the adverse impact of failure rather than the gains from success, and so encourage excessive risk-aversion. The Government has developed a sound and potentially useful framework for the assessment of risk but the key issue is whether this framework is applied properly, and it is important to recognise the limitations of quantitative approaches to risk assessment.

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Government policy on the management of risk: 5th report of session 2005-06, Vol. 1: Report: House of Lords Papers 2005-06, 183-I. Vol. I Report (Paperback)

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