Editor’s Note: The material below, from the UK’s Regulatory Policy Committee, explains the duty of regulatory agencies to perform cost-benefit and risk analyses of regulatory proprosals. The material also provides the RPC’s most recent metrics-based report on agency performance.
From: Regulatory Policy Committee
Data on the quality of departmental impact assessments submitted to the Regulatory Policy Comittee
Regulatory proposals are accompanied by an impact assessment (IA), which assesses and estimates the likely costs and benefits, as well as presenting the associated risks, of a regulatory proposal that has an impact on business, civil society organisations, the public sector or individuals.