Creating a Better Business Climate
Proposed Legislation Would Support Burden Reduction, Cluster Development
Ontario is introducing legislation today that, if passed, would create a better business climate by reducing burdens for business and driving regional economic growth by supporting the development of clusters.
The Better Business Climate Act, would, if passed, help reduce unnecessary regulatory burdens and practices that cost businesses time and money.
The proposed legislation would require the government to report annually on burden reduction activities.
The proposed legislation would also help create jobs and drive innovation and economic growth by supporting the creation of cluster development plans. If passed, the act would allow the government, in consultation with business, academia, labour and non-profits, to identify cluster opportunities that focus on regional competitive strengths.
The legislation would also require the government to publicly release cluster development plans with a mandate to review every five years.
Helping businesses stay competitive and grow is part of the government's economic plan that is creating jobs for today and tomorrow. The comprehensive plan and its six priorities focus on Ontario's greatest strengths -- its people and strategic partnerships.
- If passed, Ontario would join British Columbia and Saskatchewan as the only provinces with legislation around regulatory reform.
- Industry Canada estimates that regulatory paperwork compliance cost about $4.76 billion in Canada in 2011, suggesting Ontario represented about $1.77 billion of the national total.
- Since 2008, Ontario has eliminated 17 per cent of all regulatory requirements — or 80,000 regulatory burdens.
- Ontario introduced the Business Info Line in 2010, making it easier for businesses to find the government supports they need in one place. The line receives over 1,800 calls per week and in 2012, saved businesses an estimated $1.3 million by reducing the amount of time lost searching for the right information or person.
- Clusters are concentrations of interconnected sectors, companies and institutions that do business with each other or are related in some way.
- Strong clusters can raise a region's capacity for innovation, global competitiveness, business attraction and the creation of well-paid jobs.
“Our government has a targeted, balanced and responsible plan to reduce burdens for business, saving them valuable time and money. If passed, this legislation puts us at the forefront of reducing the burdens businesses face in a responsible way. We are building strong partnerships with businesses to help create jobs and grow the economy. And with our cluster development plan, we are spurring long-term economic growth and innovation hand-in-hand with our partners in regions right across Ontario.”
“The TFSA is pleased to see this proposed legislation to support cluster growth and reduce regulatory burdens on businesses. The experience of our public-private partnership between government and Toronto’s financial industry has proven that industries can benefit from this kind of approach. A coordinated, co-operative effort from government and stakeholders to identify challenges and opportunities in cluster planning can actually help support job growth.”