✦ Plain-English Summary

Mandatory Regulation Impact Statement Bill 2025

What it does

Any MP introducing a new law into Parliament would have to prepare a formal "regulation impact statement" beforehand. This statement must explain what the law would actually do, estimate its costs and benefits, and consider other ways to solve the problem the law is trying to fix. The statement gets presented to Parliament along with the bill itself.

Why it matters

This forces the government and opposition to think through the real-world consequences of new laws before pushing them through. Right now, there's no requirement to do this analysis upfront, so laws sometimes get passed without a proper assessment of whether they'll actually work or cost more than they're worth. It's basically asking: "Have you actually worked out if this is a good idea?"

Key details

• MPs don't need to do this for bills about minor or technical matters (the bill cuts off here, but that's the intention)
• The requirement kicks in the day after the bill becomes law
• The impact statement itself won't be legally binding—Parliament can ignore it if it wants to, but at least the analysis will be on the record
• This applies to major new laws but also to certain types of rules and regulations created under existing laws

Official Description

Requires a regulation impact statement to be prepared for certain bills and legislative instruments.

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