The Department told us that RIAs currently consider the cost impact of regulations without an adequate assessment of the benefits. For example, the costs of complying with gambling regulations for gambling companies are captured, but the benefits of those regulations in reducing crime are not. Similarly, the costs to landlords of tenant fee regulations are counted, but the benefits to tenants from these regulations are not.31 The Competition and Markets Authority (CMA) has also criticised RIAs for not giving 25 NAO report, pages 34–35 26 HC Committee of Public Accounts, Consumer Protection, 107th report of Session 2017–19, HC 1752, July 2019 27 Qq 43–44 28 Q 45 29 Q 46 30 Department for Business, Energy & Industrial Strategy, Business Impact Target Statutory Guidance, January 2019 31 Q 70 Principles of effective regulation 13 enough consideration to the impact of regulation on competition and innovation, increasing the risk that regulatory measures may have major unintended impacts on competition and innovation.32 The Department accepted that the process for integrating competition assessments into RIAs could be improved, but told us this must be balanced with ensuring the process itself is not so burdensome on regulators and departments that it delays the delivery of policy objectives. The government has committed to reviewing the Business Impact Target framework, with the aim of ensuring the approach in future better recognises both the costs and benefits of regulation. The Department expects to launch this as a consultation exercise later this year.33 Outcomes-focused regulation