Overview

This bill mandates the publication of Regulatory Impact Assessments (RIAs) for all new primary and secondary legislation introduced by the UK government. Failure to comply results in a mandatory statement to Parliament.

Description

This bill requires the government to publish a RIA for all new Bills and statutory instruments before they are introduced to Parliament. The RIA must assess whether the benefits of new regulations outweigh the negative impacts and costs. These assessments must conform to guidance published by an independent body (as appointed under section 25 of the Small Business, Enterprise and Employment Act 2015). If the government fails to publish the RIA on time, the responsible minister must make a statement to the relevant house of Parliament on every third sitting day until the RIA is published.

Government Spending

The bill itself doesn't directly allocate or change government spending. However, the requirement for RIAs may lead to increased costs associated with conducting these assessments. The exact financial implications are not specified in the bill itself.

Groups Affected

Groups affected include:

• Government Departments: Will need to produce and publish RIAs for all new legislation, potentially increasing their workload and administrative costs.
• Parliament: Will receive and scrutinize the published RIAs, informing their legislative decisions.
• Businesses and the Public: Will have access to RIAs, allowing them to understand the potential impacts of new regulations and participate in the legislative process.
• Independent body appointed under section 25 of the Small Business, Enterprise and Employment Act 2015: This body will be responsible for verifying the quality and compliance of the RIAs.

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