Financial implications of the Bill
49 The public expenditure resulting from the Bill are the cost of the establishment and operation of the new regime by the ONR in line with the regulations that will be made under the powers in the Bill. The costs to set up a UK domestic safeguards regime (which remain subject to further analysis) are potentially up to £10m. This would include procurement of a new IT system, recruitment and training of a large number of inspectors and strengthening institutional capacity to deliver the project. This cost can be met from within BEIS’s Spending Review allocations. The cost of any equipment currently in the United Kingdom but belonging to Euratom is a matter currently under negotiation with the European Union. The regime is also likely to involve an ongoing cost of around £10m a year, which is in line with the United Kingdom’s current cost of Euratom safeguards activity in the United Kingdom.