Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, what estimate he has made of the potential savings to the public purse of abolishing the Office of the Regulator of Community Interest Companies.

The Office of the Regulator of Community Interest Companies (“CICs”) (“the Regulator”) plays a crucial role in maintaining the CIC model as an effective form of social enterprise. By exploiting the considerable overlap between the Regulator and Companies House, and the close working relationship that already exists between the two, the Government intends to fully integrate the Regulator’s functions into Companies House as part of wider plans to streamline the UK’s regulatory environment. As the Regulator is entirely funded by fees, there will be no saving to the public purse.