Regulatory provisions for the government’s business impact target to reduce regulation on business.
The Department of Health’s regulatory bodies must publish an assessment of their impacts on business as part of the government’s Business Impact Target (BIT).
The policy objectives of the Business Impact Target are:
- reduce regulatory burdens on business and voluntary or community bodies, to free up resources and boost productivity
- increase transparency around the impact of regulation on business
- provide greater incentives for regulators to design and deliver policies that better meet the needs of business
Under section 24A of the Small Business and Enterprise and Employment Act, listed regulators must publish:
- their qualifying regulatory provisions (QRPs)
- an assessment of the economic impact on business of those QRPs
- a summary of regulatory provisions that are not qualifying regulatory provisions (NQRPs)
The above must be agreed and validated by the Regulatory Policy Committee.