The Small Business, Enterprise and Employment (SBEE) Act 2015, as amended by the Enterprise Act 2016, brought Ofqual and other statutory regulators into the scope of the government’s Business Impact Target (BIT).
The government’s policy objectives for the BIT are to provide a wider focus for the reduction of regulatory burdens on business, to improve transparency around the impact of regulation and to provide greater incentives for regulators to deliver policies that better meet the needs of business.
Regulators are required to report on the period from 21 June 2018 to 20 June 2019. In June 2018 the government announced details of BIT in the new Parliament, including the list of excluded activities. Activities that have an annual impact on business of less than ± £5 million are now reported as exclusions.
All of our activities fall within the BIT exclusions, and we are today publishing these in a summary of non qualifying regulatory provisions, as required by the SBEE. We do not have any qualifying regulatory provisions to report this year.