We set out our approach to better regulation in order to meet our statutory reporting requirements.
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
Under section 24A of the Small Business, Enterprise and Employment Act, as amended by the Enterprise Act 2016, ORR has a duty to report against the Government’s Business Impact Target (BIT).
We are required to assess Qualifying Regulatory Provisions (QRPs) annually from 2017 on the direct impact of our regulatory changes on business. We must publish a BIT Non-Qualifying Regulatory Provisions (NQRPs) summary report on a date specified annually by the Government.
Please note that this requirement excludes 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. For the avoidance of doubt, when making regulatory decisions, the ORR does take into account these benefits.