Canada’s regulatory system is smothering business in Canada, thanks to a growing mix of complex, costly and overlapping rules from all levels of government. A new report by the Canadian Chamber of Commerce, Death by 130,000 Cuts: Improving Canada’s Regulatory Competitiveness, calls on governments to modernize their regulatory frameworks and give businesses in Canada room to thrive.
“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.”
The U.S., which is both our largest trading partner and competitor, has recently implemented significant corporate tax and regulatory reforms. Canada cannot afford to fall further behind. Today’s report identifies opportunities to increase public and investor confidence in Canada’s regulatory systems and provides clear recommendations to government on how to do it...
The report is available online at RegulateSmarter.ca.