A Regulatory System That Works for Everyone, Including Business
Well-managed regulation can provide investors and businesses with certainty, while protecting consumers and the environment. Countries with effective, predictable regulatory systems attract investment and get major projects built. Unfortunately, Canada’s complex web of overlapping regulations at all levels of government is strangling business, driving away investment, preventing our resources from getting to market and diverting attention from more productive tasks.
We feel the effects of our broken regulatory system in other ways, too. For instance, while Canadians are committed to reconciliation with Indigenous peoples, there is much work to do. A more predictable, effective regulatory system would promote improved relations with Indigenous peoples, opening up new opportunities for collaboration and increased economic participation while reducing risk and uncertainty for business.
HOW GOVERNMENT CAN PLAY ITS PART
Canada’s regulatory system must provide appropriate environmental, social and economic protections, strengthen relationships with Indigenous peoples and help get our products to market without further increasing the cost of doing business. To achieve these goals, we are asking all federal parties to commit to:
Giving regulators economic growth and competitiveness mandates. READ FULL RECOMMENDATION
Implementing a 2-for-1 rule to require the elimination of two regulations for every new one introduced over the next five years. READ FULL RECOMMENDATION
Creating a Minister of Regulatory Efficiency responsible for regulatory oversight at the Treasury Board to lead an ambitious federal regulatory reform agenda. READ FULL RECOMMENDATION
Convening business, Indigenous peoples and other levels of government to develop a clear, consistent framework for the duty to consult and accommodate. READ FULL RECOMMENDATION
Providing compensation to major project proponents and Indigenous communities that lose economic opportunities when projects cannot proceed because the Crown or its agencies fail to discharge their legal responsibilities. READ FULL RECOMMENDATION
Allowing First Nations to extricate themselves from aspects of the Indian Act via a Band Council resolution and the support of a clear majority of band member READ FULL RECOMMENDATION
To learn more on how 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, visit RegulateSmarter.ca.
We sat down with business and Indigenous leaders to hear what they had to say regarding reconciliation and what it means to their communities and businesses.