§ Mr. SteenTo ask the President of the Board of Trade what regulations his Department proposes to repeal by the end of 1995; if he proposes to conduct a compliance cost assessment on each regulation repealed; and what is the estimated cost of undertaking a compliance cost assessment to assess the advantages or disadvantages of such a repeal. [41562]
§ Mr. LangThere are no plans to repeal any further regulations by the end of 1995. However, four proposals for deregulatory amendments to company and competition law are currently before the Select Committee on Deregulation.
The requirement to carry out a compliance cost assessment applies to regulations which impose additional burdens on business while the programme of repeals and amendments is concerned with reducing the burden. However, it is estimated that cost savings of at least £100,000 a year will result from the amendments currently proposed.
§ Mr. SteenTo ask the President of the Board of Trade what is the estimated saving to the Exchequer by the repeal of each rule and regulation which has so far been the subject of a reference to the Deregulation Committee from his Department; and in how many cases a compliance cost assessment has been carried out. [41547]
§ Mr. LangMy Department has laid four draft deregulation proposals to date. The savings to the Exchequer as a result of these orders are virtually impossible to quantify but are likely to be very small.
562WHowever, it is estimated that they will result in savings to business of at least £100,000 a year.
The explanatory document which is presented to the Committee alongside each draft order is required to contain an assessment of the cost savings to business and any other persons whom the draft order is intended to benefit.