The UK government announced recently that it will shortly begin publishing regular reviews of new regulations affecting businesses after they have been enacted, in order to assess their effectiveness and financial impact.
Currently, civil servants only provide an estimate of the cost of new rules to business prior to their implementation. However, under the new regime, civil servants independent from the writers of a piece of legislation will assess its impact in a 'post implementation review', which will be conducted within three years of the regulation coming into force.
According to The Telegraph, the Inland Revenue is planning to look back at regulations put in place over the last two years, whilst Customs and Excise will examine the impact of laws put in place in the last year. The Department of Trade and Industry is also understood to be reviewing recently introduced legislation.
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