What should Britain's new regulatory system for health look like? There is broad agreement among the existing regulators and inspectors that there needs to be an economic regulator - concerned with market exit and entry, financial performance and failure, acquisitions and mergers - and an inspectorate that oversees quality standards.

But there is sharp disagreement about whether these functions should be in one body or two. And the situation is complicated by the government's desire to have one regulatory system for both health and social care.