Safety is costly, you know!
Any caution on safety is not costly. It may appear costly with respect to money, time, presumed slowness in reaching immediate targets, etc. But, if something is found to be missing w.r.t. ensuring safety and it needs resources to correct it doesn't mean it is added cost.
We have to thank our luck that nothing happened till such time and that somehow the deficiency or lapse was seen by somebody and got an opportunity to rectify it.
Nothing goes waste when we allocate resources meant for enforcing or improving workplace. Those who suffered due to incidents/accidents can tell the impact faced by them, till their memory retains.
Generally, people will forget the lessons and repeat the mistakes in same or different form.
Repetition of mistakes and resultant accidents make the interested parties sick of the way the organization is being run with shortsightedness.
Strict control only appears to work, but how long this can go on depends on mental stamina of the persons in controlling positions.
I think we are destined to suffer at different intervals due to failure to follow the procedures meant for safety of persons/property/environment/etc and when the loss is huge, then the whole organization suffers, may lead to closure.