Safe Work Australia RIS on Engineered stone August 2023 | Page 36

Table 7 Further breakdown of the estimated cost for prohibition options over appraisal period ($ m )
Option 1
Option 2
Option 3
Licensing framework for work with legacy products ( other industry PCBUs )
Cost to PCBUs
$ 133.0
$ 133.0
$ 133.0
Cost to government
$ 107.5
$ 107.5
$ 107.5
Sub Total
$ 240.5
$ 240.5
$ 240.5
% Total option costs
96 %
100 %
96 %
Option-specific costs ( engineered stone PCBUs )
Cost to PCBUs
$ 6.9
$ 0
$ 4.2
Cost to government
$ 0.7
$ 0
$ 3.6
Cost to workers
$ 3.1
$ 0
$ 1.5
Sub-total
$ 10.6
$ 0
$ 9.3
% Total option costs
4 %
$ 0
4 %
Total
$ 251.1
$ 240.5
$ 249.8
4.4 Option 1 monetised costs
4.4.1 Costs to PCBUs
A prohibition on the use of all engineered stone ( Option 1 ) is estimated to result in costs to PCBUs of $ 139.9 million . As shown in Table 8 , this represents $ 6.9 million in costs to engineered stone PCBUs and $ 133 million attributed to the licensing framework for legacy products , impacting other industry PCBUs .
DECISION REGULATION IMPACT STATEMENT Prohibition on the use of engineered stone Page 35 of 107