The Government has strengthened the Regulatory Impact Analysis framework with a focus on costing impacts on business, community organisations and individuals as part of a broader goal to reduce the burden of regulation. A new Australian Government Guide to Regulation (replacing the current Best Practice Regulation Handbook) will be issued in early 2014. In the interim, this guidance note details important changes to the Regulation Impact Statement (RIS) requirements which must be applied in addition to the requirements in the current handbook. Consequently, the handbook must be read in conjunction with this guidance note. Some of the key changes to the RIS requirements are:
- All Cabinet Submissions require a RIS
- All proposals that have a more than minor impact on individuals will require a RIS
- All RISs must quantify the regulatory burden to business, community organisations and individuals of new or amended regulations and identify reductions in regulatory burden to offset the cost of these new or amended regulations.
These arrangements are effective from January 2014. If you have any questions about the material contained in this guidance note, please contact the Office of Best Practice Regulation.
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