§ 34. Mr. CotterTo ask the Secretary of State for Trade and Industry what measures he is taking to ensure that impact assessments are effective. [139566]
§ Ms HewittNew guidance announced on 9 August, which is available on the Cabinet Office website, includes a number of important advances on previous practice. Civil servants are required to prepare an initial regulatory impact assessment early in the policy-making process before Ministers consider regulatory and non-regulatory policy options. As the policy develops, the guidance requires more thorough assessment of costs and benefits of proposals throughout the lifetime of the policy in 739W question. Ministers are required to certify their confidence that the "benefits justify the costs" rather than that "the correct balance has been struck".