Will the Minister provide reasons why the cost of the Water Resources (Control of Agricultural Pollution) (Wales) Regulations 2021 over 20 years will be £904 million more than the stated value of the benefits?
Answered by Minister for Environment, Energy and Rural Affairs | Answered on 10/03/2021
The Regulatory Impact Assessment (RIA) provides a detailed cost benefit analysis, demonstrating the range of costs and benefits varies considerably in different scenarios. The RIA assesses the possible cost benefit of the Regulations using the Net Present Value (NPV). The central estimates for the NPV, the costs and environmental benefit prices at medium levels, range between a net cost of £140million to a net benefit of £28 million, over 20 years.