Medicines and Medical Devices Bill

Explanatory Notes

Financial implications of the Bill

293 Existing regulations which govern human medicines, veterinary medicines and medical devices will become retained EU law at the end of the transition period by virtue of the European Union (Withdrawal) Act 2018. The Bill introduces powers to enable changes to that domestic legislation to be made. There are no immediate financial implications arising from the delegated powers in the Bill. There will be economic familiarisation costs in the order of £0.7m with respect to powers on enforcement around medical devices (Part 3, Chapter 2). These may be outweighed by efficiency savings through the rationalisation of existing regulations. There are no financial or economic impacts monetised for the disclosure of information powers with respect to medical devices (Part 3, Chapter 3). Instead the changes to existing domestic legislation will be determined by future developments in the relevant sectors as well as by the outcome of the continuing UK-EU negotiations.


Prepared 12th February 2020