We work to create a regulatory and monitoring environment which is in the interests of rail and road users. We are committed to proportionate and effective regulation of the rail sector and monitoring of National Highways. We lead and learn from regulatory best practice across the UK and internationally, and apply the principles of better regulation across all of our activities.
Business Impact Target – reporting requirements
Previously, under section 24A of the Small Business, Enterprise and Employment Act, as amended by the Enterprise Act 2016, we had a duty to report against the Government’s Business Impact Target (BIT).
We were required to assess Qualifying Regulatory Provisions (QRPs) annually from 2017 on the direct impact of our regulatory changes on business. We published a BIT Non-Qualifying Regulatory Provisions (NQRPs) summary report on a date specified by the Government. Our previous reports can be found under related publications at the bottom of this page.
On 29 June 2023, the statutory requirement to publish an annual BIT report was removed under the Retained EU Law (Revocation and Reform) Act 2023.
When developing business related decisions we still consider the direct impact of our regulatory changes on business. This includes an assessment of any benefits that may arise from regulatory actions for end-users of the railway, including passengers or businesses that rely on rail travel. We follow an impact assessment (IA) process for all policy interventions and consider whether to complete a proportionate IA or not for every intervention.