While the impacts will clearly depend on the specific nature of the option being assessed, Table 1 below lists some examples of economic/financial costs and benefits that may need to be considered in the CBA. As shown in Table 1, the costs of administration, compliance and enforcement associated with the proposed options should be included within this category. The methodology outlined in the Regulatory Change Measurement Manual may be used to measure the regulatory costs of the different options. Table 1: Examples of economic/financial costs and benefits Group Examples of Examples of benefits Additional costs incurred arising from Benefits arising from increased Business changes required to production, efficiency/productivity as a result transportation and/or marketing procedures of the measure, may emerge Licence fees or other charges levied by in the form of reductions in costs government due to the removal of restrictions Higher input costs, including the additional on competition and/or removal of costs of shifting to other sources of supply marker power of an input supplier Costs resulting from delays in the Reductions in workplace accidents introduction of goods or services to the and injuries, and healthier marketplace and/or restrictions in product workforce (increased human availability capital) Costs associated with lower productivity Improvements in market because the proposed measure causes information diversion from business activities Ability to take greater advantage ‘core’ Costs of time and legal/consultancy fees of economies of scale required for familiarisation with regulatory requirements Additional reporting requirements and other paperwork associated with administrative burden Costs of internal inspection, monitoring, audit fees and legal fees to ensure compliance Higher prices for goods and services Lower prices for goods and Consumers Reduction in the quality or choice of and services (e.g. due to the removal services of restrictions on competition) Delays in the introduction of goods and Improved safety of goods and services and/or restrictions in product services availability Increases in the quality and choice More difficult or more expensive options for of goods and services seeking redress Provision of greater information about goods and services Same as costs listed under to the Improvements in public health, Government ‘business’ extent that the proposed measure applies to resulting in lower costs to the the government sector, including local public health system and worker government compensation payments (e.g. Administration costs (e.g. processing of where regulation is to improve permits and applications, publicity and health and safety) guidance, advice lines) Improved information to the Enforcement costs incurred by regulator government (including any legal expenses) Implementation to government enforcement agencies. If local government is to administer/enforce regulation, costs of training and assistance that will be made available to local government
While the impacts will clearly depend on the specific nature of the option being assessed, Table 1 below lists some examples of economic/financial costs and benefits that may need to be considered in the CBA. As shown in Table 1, the costs of administration, compliance and enforcement associated with the proposed options should be included within this category. The methodology outlined in the Regulatory Change Measurement Manual may be used to measure the regulatory costs of the different options. Table 1: Examples of economic/financial costs and benefits Group Examples of Examples of benefits Business Additional costs incurred arising from changes required to production, transportation and/or marketing procedures Licence fees or other charges levied by government Higher input costs, including the additional costs of shifting to other sources of supply Costs resulting from delays in the introduction of goods or services to the marketplace and/or restrictions in product availability Costs associated with lower productivity because the proposed measure causes diversion from ‘core’ business activities Costs of time and legal/consultancy fees required for familiarisation with regulatory requirements Additional reporting requirements and other paperwork associated with administrative burden Costs of internal inspection, monitoring, audit fees and legal fees to ensure compliance Benefits arising from increased efficiency/productivity as a result of the measure, may emerge in the form of reductions in costs due to the removal of restrictions on competition and/or removal of marker power of an input supplier Reductions in workplace accidents and injuries, and healthier workforce (increased human capital) Improvements in market information Ability to take greater advantage of economies of scale Consumers Higher prices for goods and services Reduction in the quality or choice of and services Delays in the introduction of goods and services and/or restrictions in product availability More difficult or more expensive options for seeking redress Lower prices for goods and services (e.g. due to the removal of restrictions on competition) Improved safety of goods and services Increases in the quality and choice of goods and services Provision of greater information about goods and services Government Same as costs listed under ‘business’ to the extent that the proposed measure applies to the government sector, including local government Administration costs (e.g. processing of permits and applications, publicity and guidance, advice lines) Enforcement costs incurred by regulator (including any legal expenses) Implementation to government enforcement agencies. If local government is to administer/enforce regulation, costs of training and assistance that will be made available to local government Improvements in public health, resulting in lower costs to the public health system and worker compensation payments (e.g. where regulation is to improve health and safety) Improved information to the government
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