Good News for Small Businesses
May 01, 2011
Our federal Conservative Government has announced the creation of the Red Tape Reduction Commission, which will work to reduce the burden of federal regulatory requirements on Canadian enterprises, especially small- and medium-sized businesses. Prime Minister Stephen Harper said “small and medium-sized businesses are a critical driver of the Canadian economy. This initiative will help ensure that they can grow, prosper and create jobs without being impeded by unnecessary government regulations.”
The Red Tape Reduction Commission will be chaired by Minister of State (Small Business and Tourism) Rob Moore and will help find effective and lasting solutions to support Canadian small- and medium-sized businesses. It will consult with Canadians and Canadian businesses to identify irritants that have a clear detrimental effect on growth, competitiveness and innovation. The Commission will also look at the cost associated with federal regulatory requirements that businesses face, and provide advice on permanent solutions for reducing the overall compliance burden.
Canadian businesses spend billions of dollars each year adhering to regulations. Our Conservative Government feels it is important to look at where and how we can reduce these costs and this red-tape burden.
Over the last three years, our Government has simplified regulatory and administrative requirements for Canadian businesses, including the Paperwork Burden Reduction Initiative, which eliminated almost 80,000 regulatory requirements and information obligations by streamlining regulations, eliminating duplicate requirements and overlapping obligations, and reducing information requirements. Also, the Canada Revenue Agency has reduced the frequency of required tax filings and remittances, benefiting small businesses.
The Commission will hold consultations with Canadian businesses including an online consultation process will also take place at www.reduceredtape.gc.ca. The Commission will issue its recommendations to the Government in the fall of 2011.
I think this Commission is good news for small businesses.
What do you think?