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On April 7 2011, the Government published the first in a series of publications entitled ‘One-in, One-out: Statement of New Regulation’, which will be published twice a year. The Statement of New Regulation showed that the Government's one-in, one-out rule has resulted in an overall reduction in the net cost to business and civil society organisations of -£3.207 billion.
When work started on the Statement of New Regulation, Departments proposed a total of 157 domestic regulatory measures, 119 of which would have imposed a cost to business. In the course of preparing the Statement of New Regulation the requirement for the estimates to be assessed and confirmed by the independent Regulatory Policy Committee was rigorously imposed, and Departments were challenged to defend particular regulatory decisions. The result was that the total number of proposed regulations dropped by 70% (from 157 to 46). Of the remaining 46 measures only 11 impose a net cost to business, 26 impose a zero net cost to business and nine reduce the net cost to business.