Assessing costs of regulation

Description

Assessing costs of regulation involves systematically identifying, quantifying, and evaluating the direct and indirect financial, administrative, and compliance burdens imposed by regulatory measures. This strategy aims to inform decision-makers, optimize regulatory design, and prevent unnecessary or disproportionate costs. By highlighting inefficiencies and unintended consequences, it enables targeted reforms, streamlines processes, and ensures that regulations achieve their intended objectives without imposing excessive burdens on businesses, governments, or society.