(Greater Sudbury, May 31, 2018) Canada’s regulatory system is smothering business, 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, and supported by the Greater Sudbury 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 keep up and 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.”
As the U.S., our largest competitor and trading partner, 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 it should be done.
“Inefficient and ineffective regulation is hurting Greater Sudbury’s business community,” said Michael Macnamara, Chair of the Board, Greater Sudbury Chamber of Commerce. “Regulators do not presently consider the impact that regulations will have on business competitiveness. The real world impacts of the decisions they make are often ill-considered.”
The chamber points to the new federally imposed carbon pricing regime which takes little account of provincial emissions standards. The forthcoming federal carbon pricing requirement does not acknowledge the diversity of emissions standards with which business already have to comply and ignores the investments many businesses have already made. The failure of government and regulators to acknowledge these concurrent and competing regulations risks the competiveness of Sudbury’s mining industry, which competes in a global marketplace.
The Sudbury chamber will continue to address this issue as we head towards a federal election in the Fall of 2019.
The report is available online at www.regulatesmarter.ca.