The 7 Impact Analysis questions

There are seven questions that need to be addressed in a Regulation Impact Statement.

They are:

1. What is the problem you are trying to solve?
2. Why is government action needed?
3. What policy options are you considering?
4. What is the likely net benefit of each option? Including economic, social, competition or any other relevant costs and benefits.
5. Who did you consult and how did you incorporate their feedback?
6. What is the best option from those you have considered? Are there any unresolved issues?
7. How will you implement and evaluate your chosen option?

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