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This is an important story with lessons for the UK, vaccine rollout, and regulatory competition versus regulatory cooperation.
Thread (stick with me) 1/14 https://twitter.com/FT/status/1334518001949929474
Thread (stick with me) 1/14 https://twitter.com/FT/status/1334518001949929474
Back in March 2019, following 2 crashes of the 737 Max, individual regulators around the world began suspending authorisations for the plane to fly in their jurisdictions. First China, then the UK, then the EU, India and others. The FAA held out, insisting it was safe to fly. 2/
The different approach fostered uncertainty & doubt across an industry that is only economically viable if the public believe it is safe to fly.
It's why aviation safety regulators typically talk to each other all the time, & why they are slowly harmonising safety rules.
3/
It's why aviation safety regulators typically talk to each other all the time, & why they are slowly harmonising safety rules.
3/
So back then, the questions were:
Is the plane safe to fly or not?
What do the Chinese know that the US doesn't?
Were the Chinese being political in grounding the Max?
Was the US being political in keeping it in the air?
Or was there just a genuine differences in opinion? 4/
Is the plane safe to fly or not?
What do the Chinese know that the US doesn't?
Were the Chinese being political in grounding the Max?
Was the US being political in keeping it in the air?
Or was there just a genuine differences in opinion? 4/
Through the summer of 2019 and ever since, the two biggest aviation safety regulators, the Federal Aviation Administration (FAA) in the US and the European Aviation Safety Agency (EASA), have been in regular contact about the Max. 5/
What's more, they knew they had to take a joint approach to recertifying the plane. If one regulator moved first, questions would be asked as to why: were they being too fast or the other too slow? By moving together, they could signal confidence in the regulatory process. 6/
And that's what we saw last month from the FAA and EASA: in a coordinated move, they signaled the process to get the MAX back in the air. And now, the MAX is getting is getting its first firm orders since it was grounded. 7/
What does this have to do with regulatory approval for vaccines?
I can't comment on the technical issues - my working assumption is that the UK regulators have done what they need to to feel safe about the vaccine. 8/
I can't comment on the technical issues - my working assumption is that the UK regulators have done what they need to to feel safe about the vaccine. 8/
The two issues that worry me are:
My first concern is the gloating from UK politicians about getting approval first reinforces the view that they see regulation as a competition. Even if you're not competing on standards, you're competing on pace. 9/
My first concern is the gloating from UK politicians about getting approval first reinforces the view that they see regulation as a competition. Even if you're not competing on standards, you're competing on pace. 9/
Part of the rationale for leaving the EU was always for the UK to have the ability to go further, faster, different than others on regulation: ie to compete on regulation.
The populist reaction to UK approval of the pfizer/BioNTech vaccine is evidence of that viewpoint. 10/
The populist reaction to UK approval of the pfizer/BioNTech vaccine is evidence of that viewpoint. 10/
But that leads to my 2nd concern: regulation (as in the case of the 737 Max) is also about cooperation.
Regulatory cooperation and deliberately timed public statements on the Max fostered confidence in the regulatory process & the plane.
11/
Regulatory cooperation and deliberately timed public statements on the Max fostered confidence in the regulatory process & the plane.
11/
In contrast, the lack of cooperation on vaccines has cast doubt on the process in the UK, US & EU. It feeds concerns about safety. And it undermines public information campaigns on the need to get vaccinated.
It risks worse outcomes all round.
12/
It risks worse outcomes all round.
12/
Again, I can't comment on the technical reasons for different timings in the UK, US & EU. I don't know the details. And obviously the sooner the vaccine is deemed safe, the fewer people die and the quicker we can open up the economy.
I am happy the MHRA deems it safe.
13/
I am happy the MHRA deems it safe.
13/
But the political narrative that this was a competition is a deeply immature, simplistic, & unhelpful view.
And it doesn't bode well for the UK's ability to take a more nuanced, mature approach to regulation or global cooperation in the future.
/ends
And it doesn't bode well for the UK's ability to take a more nuanced, mature approach to regulation or global cooperation in the future.
/ends
