The federal government is rushing reforms to the Competition Act that would beef up regulators’ powers to study markets and block mergers, the Business Council of Canada charged in a statement released Thursday, and short-circuiting consultations and a review process that began last year. (The Logic)
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The federal government is rushing reforms to the Competition Act that would beef up regulators’ powers to study markets and block mergers, the Business Council of Canada charged in a statement released Thursday, and short-circuiting consultations and a review process that began last year. (The Logic)
Talking point: Finance Minister Chrystia Freeland shot back at the BCC, saying in a press conference that the Competition Act “has been actually about driving consolidation” and creates an “artificial shield” for Canadian companies that they don’t need. Innovation Minister François-Philippe Champagne’s department released a report on its earlier consultations just yesterday; he said more reforms to competition law are on the way, but “taking these big chunks” will lead to lower prices immediately. The measures are in the new Bill C-56, which also eliminates federal sales tax on new rental housing if they’re started by 2031 and completed by 2036.
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