Source · Select Committees · Public Accounts Committee
Recommendation 19
19
The target is net of new regulatory costs, meaning that government counts savings remaining after...
Conclusion
The target is net of new regulatory costs, meaning that government counts savings remaining after it has subtracted cost increases arising from new legislation. If new bills are introduced that impose large costs on business this puts the target at risk. For example, the Employment Rights Bill is expected to cost business £4.7 billion over 10 years, with the Right to Guaranteed Hours alone resulting in an annual administrative burden of £160 million.45 Achieving the 25% reduction target