This consultation closed on 3 November 2024, and we have published our response.
What does this document contain?
The Financial Services and Markets Act 2023 (FSMA 2023) introduced additional cost benefit analysis (CBA) accountability requirements (building on pre-existing ones in FSBRA 2013) on the PSR. Among these is the publication of a statement of policy on our use of CBAs. This draft statement of policy, which we are consulting on, builds on and replaces the draft CBA framework we published in February.
Why are we publishing this document?
The draft statement describes our approach to CBA which we consider to be part of our robust consideration of economic evidence and an important component of delivering outcomes-focused policy. CBAs are an important tool that can help us consider the likely impacts of our proposed interventions.