A costing tool, Measuring the Costs of Regulation, has been developed to supplement the NSW Government’s Guide to Better Regulation. The requirements of the Guide to Better Regulation commenced on 1 June 2008.

Measuring the Costs of Regulation accompanies the Guide to Better Regulation by providing more detailed information on how to measure the costs of a regulatory proposal. It provides agencies with some tools to determine whether a regulatory proposal will minimise costs and/or provide the greatest cost savings to the community.

Understanding the costs of a regulatory proposal also assists decision makers to understand the likely impacts of that regulation on different sectors of the community.

Measuring the Costs of Regulation can be found on the Better Regulation Office website www.betterregulation.nsw.gov.au

Further information on the requirements of the Guide to Better Regulation can be found in the Premier’s Memorandum No. 2008-05 and on the Better Regulation Office website.

The Better Regulation Office will actively seek feedback on the costing tool from Government agencies and other stakeholders as part of a commitment to review the Guide and all supplementary documents within 12 months.

(signed)

Robyn Kruk
Director General