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In March 2008 the Government announced it would consult on the introduction of a new system of regulatory budgets for Departments, that would limit the cost of new regulation.
A world first for the UK, implementing regulatory budgets would allow the Government to better manage the costs of new regulation, taking account of their overall impact on the economy.
Business and charities would benefit from better controlled regulatory costs and greater certainty about future regulation, allowing them to plan ahead.
The consultation document below explains the background to regulatory budgets. We would like to hear from anyone with an interest in the Government's approach to better regulation - including large and small businesses, third sector organisations, trade unions, social, environmental and consumer groups, academics, regulators, enforcers, and lawyers. Responses to the consultation have helped inform the Government's decision on the introduction of regulatory budgets.
The formal consultation process ran from Wednesday 6 August to Wednesday 12 November 2008.
As part of the consultation exercise we held an event on Tuesday 7th October 2008. The event allowed us to explain our ideas in more detail, answer questions and get reactions to our proposals. No other country has implemented such an innovative policy, and we needed to make sure that any new system would operate effectively.
The consultation event mentioned above has passed. We would like to offer our thanks to all those who attended this event and contributed to the session discussions. A summary report of the event and feedback received and the PowerPoint slides which were used in each of the sessions can be found in the links below. Please be advised that some of these slides are dynamic and will need to be viewed in slideshow mode.
The Regulatory Budgets Consultation closed on the 12th November 2008. 74 responses were received during the 14 week consultation period from various representatives from the business community, small and medium enterprises, and national regulators.
The Government has now decided not to implement a system of regulatory budgets at this stage. A statement was made to parliament on 2 April 2009. Click here
Summary Report
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Sessions 1 & 4: What will Regulatory Budgets mean for me?
Session 2: Processes and Institutions for Managing a Budget
Session 3: Legislative boundaries
Session 5: Organisations accountable and budgeted costs
Session 6: Economic methodology
Printed copies may be obtained from:
BERR Publications Orderline
Tel: 0845 015 0010
Fax: 0845 015 0020
Minicom: 0845 015 0030
ADMAIL 528
London
SW1W 8YT
The Impact Assessment accompanying the consultation document can be obtained here.
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