May 29, 2014

UK Regulatory Policy Committee: Recommendations Used when Scrutinising Impact Assessments

Editor’s Note: HM Government’s Regulatory Policy Committee (RPC) is an advisory non-departmental public body of the Department for Business, Innovation & Skills that provides “the government with external, independent scrutiny of new regulatory and deregulatory proposals.” The complete Guidance is available here. The seven recommendations below provide excellent guidance to all regulators—and their supervisors.

  1. Don’t presume regulation is the answer
  2. Take time and effort to consider all the options
  3. Make sure you have substantive evidence
  4. Produce reliable estimates of costs and benefits
  5. Assess non-monetary impacts thoroughly
  6. Explain and present results clearly
  7. Understand the real cost to business of regulation

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