Overview

This bill mandates the publication of Regulatory Impact Assessments (RIAs) for all new government laws and regulations. Failure to comply results in mandatory statements to Parliament until an RIA is provided.

Description

This bill requires the government to publish a Regulatory Impact Assessment (RIA) for every new law (Bill) and regulation (statutory instrument) it introduces. These RIAs must:

• Assess whether the benefits of the new law or regulation outweigh its negative impacts (regulatory burden).
• Comply with guidance published by an independent body (as established by the Small Business, Enterprise and Employment Act 2015).

The bill specifies that if the government fails to publish an RIA on time, the responsible Minister must make regular statements to Parliament until one is produced.

The act will come into force 40 days after it is passed and will apply across the whole UK.

Government Spending

The bill itself doesn't directly allocate government funds. However, the requirement for RIAs may lead to increased costs associated with their preparation and publication. No specific figures are provided in the bill itself.

Groups Affected

The bill will affect various groups:

• Government departments: Increased workload in preparing and publishing RIAs.
• Parliamentarians: Access to RIAs to inform their decision-making.
• Businesses and individuals: Potentially affected by the new laws and regulations, with the RIAs offering insight into the potential impacts.
• Independent body responsible for RIA guidance: Increased responsibility for overseeing RIA compliance.

Powered by nyModel