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In this edition of 5 Minutes for Business, we take a quick walk through federal efforts to address Canada’s regulatory competitiveness problem following last month’s federal budget, and what Canadian business should take away from this.

“A promise made is a debt unpaid,” said Robert W. Service. Despite the federal government recognizing these regulatory problems and promising to the resolve them, many regulators have not given it a second thought.

While there is no credible defense for our hopelessly outdated regulatory system, Minister Morneau was correct that Canada’s regulatory systems has put Canada at a competitive disadvantage.

That being said, we remain hopeful that federal political parties will position themselves to start working with the business community to work towards eliminating these systemic, incessant, self-imposed barriers to economic growth in the upcoming election.[AF1] 

To find out more, read this month’s 5 Minutes for Business, Regulatory Reform: The Good, the Bad and the Ugly.

 

 

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