The flow control device includes a flow path, a compensation chamber and a regulator assembly defining a first surface exposed to the flow path and an opposing second surface which is exposed to the compensation chamber. A drive arrangement is provided for moving the regulator assembly to vary the flow path. Fluid flowing through the flow path establishes a pressure which varies across the first surface of the regulator assembly. The compensation chamber is in pressure communication with a localised region of the first surface which is selected to establish a compensation chamber pressure which acts against the second surface of the regulator assembly to bias the regulator assembly in a desired direction. The first surface of the regulator assembly may define a profile configured to minimise the variation in pressure applied over the first surface by action of fluid flowing through the flow path.