Canada’s regulatory system is a mix of complex, overlapping rules from all levels of government that has created a costly and uncertain environment to run a business, according to a new report by the Canadian Chamber of Commerce.
A new report titled, Death by 130,000 Cuts: Improving Canada’s Regulatory Competitiveness, outlines how the federal regulatory environment is failing Canada’s economy. The report by the Canadian Chamber of Commerce finds that Canada's regulatory system consists of overly complex, overlapping rules that create a costly and uncertain environment to run a business. The report also provides recommendations on how elected officials, regulators and businesses can work together to fix it.
“Inconsistent and unpredictable rules and processes are making it difficult for businesses—whether large or small—to comply. This leads to our businesses being less competitive and Canada becoming a less attractive place to invest, start or grow a business,” said the Hon. Perrin Beatty, President and CEO of the Canadian Chamber of Commerce. “Regulations are designed to keep us safe and to create a level playing field. But when they start to smother businesses, that becomes a real problem.”
"Recent issues, like the Trans Mountain expansion project, have demonstrated the importance of having clear, consistent and competitiveness-focused regulations. We owe it to ourselves and to our businesses to improve our system and put in place smarter rules," adds Beatty.
Learn more at regulatesmarter.com.