PETERBOROUGH (ON) CHAMBER OF COMMERCE | PETERBOROUGH, ON
  • COVID-19
    • Financial Support Programs
    • Business Resources for Recovery
    • Government Responses
    • Workplace Guidelines
    • Wellness Support
    • Vaccine Information
    • Rapid Screening Kits
  • What We Do
    • Influence
    • Profile
    • Knowledge
    • TeamPtbo
  • Find A Member
    • Online Directory
  • Membership
    • Member Discounts
    • Promoting Your Business
    • I'm Here Campaign
    • #lovelocalptbo campaign
    • Join Us
    • Solar Panel Installers
  • Events
    • Calendar
    • 2022 Business Excellence Awards
    • 2022 Business Summit
    • Power Hour 2023
  • Advocacy
    • Voice of Business
  • Connect With Your Chamber
    • Join Us
    • Board of Directors
    • Your Chamber Team
    • Social Media
    • Business Resources
    • Feedback >
      • Accessibility
    • Subscribe to e-Newsletter
  • #lovelocalptbokawarthas sponsors
  • Canadian Digital Adoption Plan
  • 2022 Municipal Election
Picture
Picture

Smothering by regulation hurts business competitiveness

6/5/2018

 
Picture
As a Chamber of Commerce representing close to 900 businesses we often speak of the cumulative regulatory burden businesses face every day.  Not only are they working hard to stay competitive against like businesses in their sector, but they are working to keep their heads above water when it comes to the mandatory regulations imposed by all levels of government.

“Chamber members consistently tell us that regulatory burden and the layering impact of regulation from different ministries and levels of government is one of the most difficult areas to navigate as a business,” said Stuart Harrison, President & CEO, Peterborough Chamber of Commerce.  

The Canadian Chamber of Commerce (CCC) has crunched the numbers and found “in 2015, the federal government reported that there are 131, 745 federal requirements that impose an administrative burden on business.”

As a result one could say that Canada’s regulatory system is smothering business in Canada.  A new report by the CCC, and supported by the Peterborough 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.

The report details the cost of regulation and how it shapes a business’ activities by impacting
behaviour around capital investment, productivity and innovation, as well as creating a focus on paperwork and compliance tasks.  A study out of the United Kingdom and referenced in the report identifies that “ the relationship between regulation and growth is complex…” as it can have both negative and positive impacts.
Death by a 130,000 Cuts examines why Canada is falling behind by looking at nine factors including regulatory overlap, interprovincial regulatory differences that report calls a tyranny of small variances from province to province that add up, inconsistent regulatory processes and consultations along with the role of our regulating bodies and the criteria they follow.

The report also looks at regulating in an era of accelerating technological change as not only is technology disrupting markets and sectors; it’s disrupting how regulators establish and enforce rules for those markets.
In the end the call to action is that Canada has the opportunity to modernize its regulatory system and turn them into a competitive strength instead of a weakness.   

In order to do so the Canadian Chamber offers seven recommendations:
  • Recommendation One: Establish a government–business regulatory competitiveness working group
  • Recommendation Two: Give regulators economic growth and competitiveness mandates
  • Recommendation Three: Increase federal leadership eliminating interprovincial trade barriers
  • Recommendation Four: Rebuild stakeholder confidence in cost-benefit analysis
  • Recommendation Five: Improve regulatory consultations
  • Recommendation Six: Increase efforts to modernize individual regulatory frameworks
  • Recommendation Seven: Increase international alignment, especially in new areas of regulation

The recommendations provide a strategic way forward designed to ensure Canada’s business
competitiveness in a global economy.   

“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.”

Read Full Report

Comments are closed.

    Author

    The Peterborough 
    Chamber of Commerce acts as a catalyst to enhance business growth, opportunity, innovation, partnerships and a diverse business community. 

    Archives

    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    September 2015
    August 2015
    June 2015
    May 2015
    April 2015
    January 2015

    Categories

    All

    RSS Feed

Copyright © 2021 Greater Peterborough Chamber of Commerce.  ​All rights reserved.
175 George Street North, Peterborough, ON, K9J 3G6
Phone: (705) 748-9771  |  (705) 743-2331  
Home    |    Calendar    |   Site Map   |    Privacy    |    Accessibility
Join the Chamber
MemberClicks
  • COVID-19
    • Financial Support Programs
    • Business Resources for Recovery
    • Government Responses
    • Workplace Guidelines
    • Wellness Support
    • Vaccine Information
    • Rapid Screening Kits
  • What We Do
    • Influence
    • Profile
    • Knowledge
    • TeamPtbo
  • Find A Member
    • Online Directory
  • Membership
    • Member Discounts
    • Promoting Your Business
    • I'm Here Campaign
    • #lovelocalptbo campaign
    • Join Us
    • Solar Panel Installers
  • Events
    • Calendar
    • 2022 Business Excellence Awards
    • 2022 Business Summit
    • Power Hour 2023
  • Advocacy
    • Voice of Business
  • Connect With Your Chamber
    • Join Us
    • Board of Directors
    • Your Chamber Team
    • Social Media
    • Business Resources
    • Feedback >
      • Accessibility
    • Subscribe to e-Newsletter
  • #lovelocalptbokawarthas sponsors
  • Canadian Digital Adoption Plan
  • 2022 Municipal Election