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Developments: Financial Implications of Major Legislation

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  • Michael Chisholm

Abstract

It is highly desirable that public policy should be based on good evidence, but the information available to the Westminster Parliament concerning the costs and benefits of proposed legislation is seriously inadequate. This theme is discussed in relation to laws affecting local government, where the costs of change have been under-estimated and the benefits exaggerated. If better information had been available, the legislation might have been altered. The author argues that some form of independent scrutiny is needed to assist legislators in assessing the costs and benefits of proposed enactments, and that American practice, in particular the Congressional Budget Office, may provide a suitable model for reform.

Suggested Citation

  • Michael Chisholm, 2000. "Developments: Financial Implications of Major Legislation," Public Money & Management, Taylor & Francis Journals, vol. 20(3), pages 21-26, July.
    • Handle: RePEc:taf:pubmmg:v:20:y:2000:i:3:p:21-26
    DOI: 10.1111/1467-9302.00219
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