REGULATORY MODERNIZATION
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According to the OECD’s Product Market Regulations indicators, Canada ranks 35th out of 38 member countries in terms of regulatory burden. Regulatory stagnation stifles innovation, competition, and productivity in our economy. Senator Deacon advocates for a whole-of-government approach to an agile, modernized regulatory system that accelerates a pro-competitive, innovative, economy while still protecting consumers from risks and harms.
“There is an urgent need for ongoing, agile regulatory reform across our entire economy. This reform is critical if we want to encourage businesses — large and small — to innovate, invest and achieve productivity improvements. Prioritizing regulatory agility is an exceedingly low-cost way for Canada to become a globally competitive market for innovators, while delivering affordability and protection to consumers.”
Key Resources
Click below to access key information related to this project.
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September 26th, 2023
Canada’s current approach to rulemaking is not keeping pace with the deployment of new digital technologies.
CIGI co-hosted an event at the Senate of Canada with Senators Yuen Pau Woo and Colin Deacon.
CIGI Senior Fellow Michel Girard presented his research paper “Canada Needs Its “New Approach” to Streamline Digital Rulemaking” to Parliamentarians, proposing the modernization of the Statutory Instruments Act to enable rulemaking to keep pace with the release of digital technologies.
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February 1st, 2023
Innovation will never convert into productivity growth unless we constantly modernize our regulations, empowering businesses to implement innovative new practices that also protect consumers. In this opinion piece, Senator Deacon opines on substantial regulatory modernization challenges. Click here to read more.
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June 20th, 2022
In a rapidly evolving world, Canada's regulations need the agility to deal with disruptions and new developments head-on. The current status quo governing regulations impedes catalytic market activity, creates unnecessary, cumbersome burdens for Canada's firms, and leaves little opportunity for innovation. In his second speech on the importance of regulatory modernization in Canada, Senator Deacon reiterates the importance of broader consultations with diverse stakeholders and advocates for industry-led standards to complement the regulatory modernization process. Click here to see his full remarks.
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April 28th, 2022
Senator Deacon rises in the Senate Chamber to speak to Bill S-6 (An Act respecting regulatory modernization), which is an Annual Regulatory Modernization exercise led by the Treasury Board of Canada to identify and remove legislative 'irritants'. Senator Deacon argues that we need to go beyond just identifying irritants in regulation and strategize on how to increase the flexibility and agility of Canada's regulations in an inclusive and principles-based manner. Doing so would be key to advancing innovation, competition and productivity growth in our country. Click here to see the speech.