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A number of the Department for Business, Energy and Industrial Strategy鈥檚 regulatory bodies are subject to the government鈥檚 business impact target (BIT).

The policy objectives of the BIT are to:

• reduce regulatory burdens on business and voluntary or community bodies, to free up resources and boost productivity
• increase transparency around the impact of regulation on business
• provide greater incentives for regulators to design and deliver policies that better meet the needs of business while respecting regulators鈥� primary duties

Under section 24A of the (as amended by the ), statutory regulators must publish the following for the relevant BIT reporting period:

• their qualifying regulatory provisions (QRPs)
• an assessment of the economic impact on business of those QRPs
• a summary of regulatory provisions that are non-qualifying regulatory provisions (NQRPs).

Although there is no such statutory requirement for non-statutory regulators, they are encouraged to publish these documents also.