Acting in the public interest â a framework for analysis - ICAEW

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10. INVITATION TO COMMENTICAEW welcomes comments on the analysis in this report and the proposed framework.Readers are particularly invited to give their opinions on the assertions noted below, includingillustrative challenges and examples beyond those which we have noted.Comments on some of the assertions are likely to identify areas needing further review ofexisting knowledge or further research on specific issues. These and comments on othermatters will be taken into account in the further evolution of this framework.1. There is a public interest in people being allowed to go about their business.However, collective individual actions can result in an outcome which is not for thegreater good in aggregate, and so interference can sometimes be justified in thepublic interest, even if there is not an overall consensus.2. A detailed general definition of the public interest would not be helpful as individualcircumstances are too variable and detailed definitions would be likely to result inunintended consequences.3. ‘The public interest’ is often used without a clear understanding of why it is beingused, or sometimes as a smokescreen for other interests.4. We propose a framework that identifies a number of key questions to be addressedwhen justifying actions as being in the public interest. We believe it will assistin understanding both by those advocating a public interest measure and thoseassessing it.5. There are a number of threats to a public interest decision not actually being, or seento be, in the public interest. Examples include past behaviour, self-interest and lobbypressure. We suggest that safeguards should match the threat, for example acting onfeedback, transparency of process, oversight, and a sense check on understanding.6. We distinguish between matters which are in the public interest and matters in whichthe public is interested, arguing that the latter does not determine the former.7. Consideration of the public interest must mean being open to taking into accountthe interests of the global public. However, as a practical matter, not everyone willactually be affected by the matter at hand. The relevant public will be all those whowill be affected, or who have a legitimate remit to speak for those who are.8. There can be constraints to the public’s wants through, for example, self-interest,misinformation, and externalities. In addition, there may be overriding values, thoughthese should be transparent.9. In principle even small scale matters can be considered to be in the public interest,although in practice other decision-making objectives might be more suitable.10. A number of ways to deal with aggregation problems and conflicts are proposed.Many of these are variations or add-ons to utility theory and they include, forexample: weighting and rating; game theory; offsetting payments; Pareto optima;win-win solutions; and impact analysis, including contingent valuation.11. We note a number of potential approaches to implementation, summarised as ‘carrot,stick and sermon’. We suggest that the appropriate approach depends on; the likelyreaction by those affected, which is itself influenced by factors such as reputationof the proposer and closeness of the required behaviour to what self-interest woulddictate; the nature of the enforcing structure; and acceptability of alternativebehaviour.68Invitation to comment
12. The framework proposes a significant degree of transparency throughout the processof assessing and applying what action is in the the public interest. However we caveatthis with the view that a sub-standard outcome can never be justified as being in thepublic interest by prioritising appearance over outcome.13. As well as undertaking a relatively high level review of the issues involved in publicinterest determination, this report also includes some illustrative examples. Theseinclude: balancing confidentiality with reporting illegal acts; how to manage trafficat road crossings; how to allocate scarce health resources among patients; balancingdifferent interests in transport infrastructure projects; and the current debate onmanaging government debt.Invitation to comment69
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ACTING IN THE PUBLIC INTEREST:A FRA
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ACTING IN THE PUBLIC INTEREST:A FRA
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Our framework is based around the k
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The answers to these questions will
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2. INTRODUCTION2.1 Concepts of the
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Accordingly, this report addresses
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Panel 2.4: ICAEW and its public int
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The Mediterranean republics needed
Page 22 and 23: We set out a framework for discussi
Page 24 and 25: 3. CREDENTIALS FOR INVOKINGTHE PUBL
Page 26 and 27: By and large producers operate in s
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Page 33 and 34: to be a public interest matter: fir
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Page 38 and 39: 5. THE RELEVANT PUBLIC5.1 ScopeIn o
Page 40 and 41: 5.3 Geographical exclusionsGeograph
Page 42 and 43: 6. THE RELEVANT PUBLIC’S WANTS6.1
Page 44 and 45: • work, that is having some, havi
Page 46 and 47: Panel 6.3: Weisbrod’s public inte
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Page 50 and 51: 7. CONSTRAINTS TO WANTS7.1 Self-int
Page 52 and 53: In terms of whether the relevant pu
Page 54 and 55: Panel 7.5: Management of national d
Page 56 and 57: Panel 7.6: ICAEW and clarity of val
Page 58 and 59: 8. AGGREGATION AND DECISION8.1 Base
Page 60 and 61: Other ethical decision-making model
Page 62 and 63: In this instance, while national se
Page 65 and 66: 9. IMPLEMENTATIONA proposed action
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Page 69 and 70: 9.2.1 Government authorityAt the st
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Page 75 and 76: ibliographyAdler, Jonathan H, Perve
Page 77 and 78: Goldstein, Eric A, ‘Defining the
Page 79 and 80: Persky, Joseph, ‘Retrospectives:
Page 81: The ICAEW is a founder member of th
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