Open For Business Act Passes
McGuinty Government Supporting Businesses To Create Jobs And Growth
Ontario is creating faster and more streamlined government-to-business services that respond to the needs of businesses, while helping save time and money.
Today, the Ontario Legislature passed the Open for Business Act, which will create a more competitive business climate, while continuing to protect the environment and Ontarians' interests.
The Act contains more than 100 amendments that will offer a range of improvements, including:
- Establishing a modern, risk-based approach to environmental approvals, which could save businesses time and money on approvals.
- Making it easier for professionals, such as internationally trained engineers, to work in Ontario by removing the citizenship and permanent residency requirements for a Professional Engineer Licence.
- The measures included in the Act were developed in consultation with partners representing businesses, labour, environmental, agriculture, and professional organizations.
- As a result of our comprehensive tax package, the marginal effective tax rate on business investment in Ontario is being cut in half, making Ontario businesses more competitive.
“Three words sum up the improvements set out in the Open for Business Act: simpler, better, faster. We will continue to protect the public interest while fostering a climate where Ontario businesses can compete and win on the world stage.”
“Whenever the government can reduce the regulatory hoops and hurdles that a small business has to face, that is a good thing. We think the Open for Business Act is a step in the right direction and look forward to working with government to continue creating the right conditions for the job-creating small business sector to succeed.”
“We are encouraged by this initiative and we think it goes a long way to help reduce the process cost and the regulatory cost, which will allow businesses to focus on what they can do to help the economy continue to grow and hopefully to thrive.”