Financial implications of the Bill
97 An impact assessment has been prepared for the Protection of Charities Provisions of the Bill and is available at www.gov.uk. There will be some transitional familiarisation costs for charities estimated to be £4.5 million, but ongoing costs are estimated to be less than £100,000 per annum.
98 An impact assessment has not been prepared for the social investment provisions of the Bill, as the new power is permissive and its associated duties reflect matters that should already be considered by charities when planning to make a social investment under the current law. However a Regulatory Triage Assessment has been prepared, and subject to its approval by the Regulatory Policy Committee will be published.
99 The Bill is not anticipated to have any impact on public expenditure or public sector manpower.
100 Costs to the Charity Commission are not considered to be significant and will be borne by prioritisation of resources from within its existing resource allocation. However the Bill is not anticipated to have any significant financial implications for the Commission. Gaps and weaknesses in the Charity Commission's legal powers have on occasion frustrated its efforts to tackle abuse resulting in delay and wasted costs. The measures in the Bill have been requested by the Charity Commission and are intended to enable the Charity Commission to utilise its resources more effectively. The Charity Commission will need to prepare guidance for charities and trustees on several matters in the Bill.