Question

To ask Her Majesty’s Government what savings have been made by efforts to reduce the cost of regulation over the last Parliament, broken down by each specific regulation.

The Ninth Statement of New Regulation, published December 2014, lists all regulation and deregulation in scope of One-in, One-out and One-in, Two-out. These are the measures used in the analysis of net savings for business. They add up to £2.2bn annual ongoing savings, or £10bn when measured cumulatively over the Parliament.

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The calculations for the value of each individual measure is set out in the published Impact Assessment associated with that measure, and validated by the independent Regulatory Policy Committee.