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28 July 2013

New "Accountability for Regulator Impact scheme" (UK)

On 24 July, the UK government announced a new scheme to give businesses a stronger voice in influencing how regulators change the way they work, chiefly by improving the RIA process.
Under the new Accountability for Regulator Impact scheme non-economic regulators that are planning a significant change in policy or practice – for example, by updating guidance or inspection regimes - will assess and quantify the impact of that change on business. 
They will then share and discuss these assessments with trade associations and other business representatives before carrying out the proposed changes.
The measure is part of the government's drive to make sure the enforcement of regulation places minimum burdens on industry while delivering essential protections and creating a level playing field on which companies can compete fairly. 
This new initiative is part of the UK government's programme to make the enforcement of regulation less burdensome, along with the a 'growth duty' – a proposed statutory duty for regulators to consider the impact of their activities on growth - and a revised Regulators' Compliance Code.

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