A pledge to examine the role of existing regulators and assess whether any could be merged is to form part of a Government white paper on regulation, to be published today.

The White Paper will also set out a programme to introduce regulatory impact assessments on all new policy measures, as part of a general drive to do away with unnecessary red tape.

The White Paper, to be launched today by the Taoiseach, Mr Ahern and the Tánaiste, Ms Harney, is called "Regulating Better" and is a major policy statement on regulation across the economy. It follows an OECD review of regulation in Ireland in 2002 and a subsequent public consultation process.

A central theme of the paper will be to eradicate unnecessary regulation and red tape to improve economic performance and attract investment.

A wide-scale review of existing legislation is promised, particularly rules that have been in place for many years - some of them pre-1922 - and may now have little or no relevance.

A wide range of regulatory structures have been put in place in recent years covering areas from utilities such as telecommunications and electricity to the financial sector and corporate enforcement. The White Paper is expected to promise a continuous assessment of the role of these regulators and the potential for rationalisation of the existing structures, including the possibility or mergers of existing regulators.

It is expected to signal that the Government would be very slow to establish any further new regulatory structures, and to call for better liaison and co-operation between existing regulators and between regulators and other bodies such as the Competition Authority and the Director of Consumer Affairs.

However it is not thought to contain any proposal for a "super-regulator" to oversee all the existing regulators.

As expected, the White Paper will also outline a new programme of regulatory impact assessment, to measure the costs and benefits of proposed new regulations. This was a central recommendation of the OECD review and is likely to be rolled out over a period of time, following pilot projects in a number of Government departments.

The paper will set down six principles for regulation. These are: necessity - to make sure a regulation is really required; effectiveness - to ensure that it works ; proportionality; transparency; accountability; and consistency.