Enterprise Bill: Extension of the Business Impact Target

Department for Business, Innovation and Skills written statement – made at on 27 October 2015.

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Photo of Baroness Neville-Rolfe Baroness Neville-Rolfe The Parliamentary Under-Secretary of State for Culture, Media and Sport, The Parliamentary Under-Secretary of State for Business, Innovation and Skills

The Enterprise Bill was introduced in this House on 16 September. It is a Bill that brings forward measures to support businesses to set up and grow. One of those measures extends the Business Impact Target (BIT) to include the activities of statutory regulators. We will require those regulators to assess and report on the impact of their regulatory activities on business. It is intended that this measure will help contribute to this Government’s commitment to reduce the regulatory burden on business by £10bn over the life of this Parliament.

The Enterprise Bill will extend the BIT brought in by the Small Business Enterprise and Employment 2015 Act. This will ensure that statutory and non-statutory national regulators - undertaking regulatory activity that has an impact on business relating to matters reserved to UK Ministers - operate within a system where there is transparent reporting of the costs to business of their regulatory activities underpinned by statute

The Bill itself does not specify which regulators are being brought into scope of the BIT; that will be set out in secondary legislation following a public consultation in early 2016. The Government is carefully considering the position of each regulator, and final decisions have yet to be made. However to assist the House in considering the clauses before it I am providing an indicative list of the bodies that are currently being considered for inclusion. This list is not definitive and the views of business, regulators and other respondents to the consultation will inform the legislation to be submitted to the House in 2016.

REGULATORS IN SCOPE OF BUSINESS IMPACT TARGET

STATUTORY (under consideration to be brought into scope under Enterprise Bill)

REGULATORS FOR FURTHER DISCUSSION (may be brought into scope under Enterprise Bill)

NON-STATUTORY (for information only, already in scope under SBEE Act 2015)

This statement has also been made in the House of Commons: HCWS272