Whilst both methodologies have some merit, the risk based approach to design and safety trumps both. My concern would be that Parliament will want to be seen to be doing something, will introduce some new regulations and think the job is done.
unfortunately a regulatory approach is often only as good as the last incident that changed it. A risk based approach, particularly in relation to fire safety, may well be preferable. I hope this is considered in the mix and we don't just get the usual knee jerk reaction.