The number of federal regulations imposed on industry rose by 37 per cent over 15 years, which Statistics Canada estimates reduced real GDP growth by 1.7 percentage points. (The Logic)
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The number of federal regulations imposed on industry rose by 37 per cent over 15 years, which Statistics Canada estimates reduced real GDP growth by 1.7 percentage points. (The Logic)
Talking point: A report published Monday linked the increase in regulations for industry from 2006 to 2021 to a decline of 1.3 percentage points in employment growth and 0.4 percentage points in labour productivity growth over that same period. It says this also meant fewer startups and a less dynamic business landscape, and that the impact was greater on large businesses. Conservative Leader Pierre Poilievre has long promised to reduce red tape in Canada, making it a central feature of his housing plan. The Liberal government is ready to reduce regulations in procurement and financial services while working with premiers to improve interprovincial trade. U.S. President Donald Trump signed an executive order to repeal 10 rules, regulations or other guidance for every new one.
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