PARLIAMENTARY WRITTEN QUESTION
(13 January 2025)

The Business Impact Target BIT, which was repealed by the previous government through the Retained EU Law (Revocation and Reform) Act, was the principal mechanism through which government made an estimate of the change in the total annual cost of regulation to business. The total impact of regulatory changes between 2011-2022 measured by equivalent annual net direct cost to business is estimated to be an increase of £6.2bn. This data is taken from annual BIT reports and for the period 2011-2015 the data also includes calculations by the National Audit Office of some regulatory changes outside the BIT’s remit.