Canada is now the first country in the world to require that for every new regulation introduced one of equivalent burden must be removed

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I have always liked Canada. They make good beer. I have always found Canadians friendly. A common sense country in many respects.

This new provision is about as common sense as it gets.

(From The Financial Post)

Why is this so important? Regulation, both necessary and unnecessary (red tape), are a huge hidden tax on all Canadians. The latest estimate from the Canadian Federation of Independent Business suggests that regulation costs $37 billion a year. To be clear, not all of these costs could or should be eliminated. But Canada’s small business owners suggest that about 30 per cent of these costs, $11 billion, could be eliminated with no negative impact on human health, safety or the environment. This number seems reasonable given that British Columbia has reduced its regulatory requirements over the past decade by over 40 per cent with no one arguing the cuts had any serious negative impacts.

Click here for the article.

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