I would like to see them only available to licensed professionals and their use restricted to certain nights of the year (NYE, Diwali, Nov 5th, probably a few more). When there's a major event (eg royal jubilee, olympics) a temporary exception could be granted, but it would need to be a big event with lots of publicity, so people were aware.
A friend had to move because a hotel a couple of miles (yes, miles) from her home became a wedding venue, then started to offer a firework display as part of the "package". She got sick of being startled out of her wits half the Saturdays in the summer months, children woken at 10pm and frightened or too excited to go to sleep, never knowing when a quiet evening with friends would be disturbed and disrupted by a racket like a small war going on and just generally feeling like she couldn't relax at weekends for a good chunk of the year.
A golf club not far from where DP used to live started doing the same. You'd be sitting in the garden of the pub enjoying a quiet pint, and all of sudden you'd be subjected to bangs so loud you'd be tempted to dive for cover (bloody made me spill my beer once, too!).
Another friend lived in a quiet street opposite a sports ground. This became the venue for an annual concert with fireworks, about 50 yards from her house. She got sick of having to put the cat in a cattery and go away for the night once a year, and moved.
In East Sussex, they're firework mad. The bonfire "season" starts on the 3rd weekend in September, and goes on till the 3rd weekend in November. Even some quite small villages have their own "bonfire societies". All the other societies descend by the coachload to participate in these events. They go back to their own towns/villages, half cut, and let off rookscarers in the street on their way home, which can be well into the early hours of the morning. It goes on most weekends.
After the dreadful fire at a Sussex firework factory, where "licensed professionals" failed to store fireworks properly and 2 firefighters died, I think the regulation and inspection of firework professionals' and their premises should be tightened up, too. Those fireworks could be heard 10 miles away.
I love to see them though. Silent fireworks could be allowed any time!