Canadian legislation is aimed at eliminating bureaucratic red tape for businesses

Canadian steel producers, distributors, and buyers of imported steel and steel products are no longer required to obtain separate permits to conduct their business. Instead, they use a general import permit, which eliminates the need to issue at least 270,000 permits per year.

The new legislation introduced by the federal government is aimed at eliminating outdated regulations that slow down business and have been called "silent job killers." "This will allow small businesses to save about $20 million in administrative costs and 98,000 hours of working time," Treasury Board President Tony Clement said at a press conference, introducing a bill to reduce the effect of "red ribbons."

Eliminating unnecessary paperwork for such simple things as renting a non-residential space and saving time and money for small companies that can now devote it to their business is a good idea, according to Tony Clement. He said that the government is studying a system that would consider the new rules in terms of how much time and money they will cost businesses. With each new rule, the government will remove one or more rules with the same or higher costs.

"When the rules become so complicated that regulators themselves can't figure them out, it's red tape for businesses," said Laura Jones of the Canadian Federation of Independent Business. This affects productivity, the cost of jobs, and threatens entrepreneurship, said Jones, who also serves on a committee advising the government on reducing regulations. Canadian business owners spend more than $30 billion. dollars per year for compliance with regulatory requirements, she said.