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Written question asked by Priti Patel (Conservative) on Tuesday, 14 May 2013, in the House of Commons. It was due for an answer on Thursday, 16 May 2013. It was answered by Sajid Javid (Conservative) on Tuesday, 21 May 2013 on behalf of the Treasury.

Regulation

Question

(3) if he will provide the estimated cost of each regulation introduced by his Department since May 2010; and what the estimated benefits of each regulation (a) amended and (b) revoked were.

[155970]

Priti Patel:

Answer

The introduction on new regulation by the Treasury is monitored through the six monthly Statement of New Regulation, when the regulation is in scope of One In Two Out. Since January 2013 the Statement of New Regulation has also included regulation which originates in the EU. Information on costs is recorded in Impact Assessments where there is a significant impact on business.

New regulation with an impact on business is subject to a review clause, and a review of this regulation will be required by a date specified in each piece of legislation.

The Treasury responds to any requests for regulation to be revoked on amended on a case by case basis.

A table which provides a list of all Treasury regulation introduced since May 2010, whether it was subject to the One-in, One-out or One-in, Two-out rules will be placed in the Library of the House. Web links are provided to pages which explain what legislation the regulation amends or revokes and what the cost and benefits of the regulation is. It should be noted that the One-in, One-out rule began operating in January 2011, and was replaced by the One-in, Two-out rule in January 2013.

Secondary information

Type
Written question
Reference
155970; 563 c644W
Session
2013-14
Related items
Deposited Paper DEP2013-0857
Tuesday, 21 May 2013
Deposited papers
House of Commons
Subjects
Regulation Treasury
Contains statistics
Yes
Link
View this Written question on www.publications.parliament.uk