Today I opened the debate on Bill C-21, the Red Tape Reduction Act, at its second reading in the Senate. It is a bill that I am proud to support. It will reduce the administrative burdens that Canadian businesses face while ensuring the safety of Canadians through thorough regulation review.
Businesses spend valuable time and resources wading through unnecessary red tape. By reducing this red tape, we will inevitably increase innovation, productivity, job creation, and international investments. We all benefit when the country is able to maintain a competitive edge in business.
Bill C-21’s One-for-One rule will ensure that for every regulation imposed on a business, one will be removed. It also ensures that the federal departments and agencies enforcing the regulations will offset any administrative burden a business faces due to these regulations. Among the bill’s aims are improving regulatory design and governance and improving the service offered to businesses by the government.
Within the One-for-One rule’s first two years, the administrative burden that companies face had already been reduced by $22 million. 290,000 hours had been saved, allowing businesses to use their time and resources more effectively and increasing productivity. This kind of progress is important for business owners, for our economy, and for all Canadians.
I hope my fellow Senators share my enthusiasm for supporting Canadian business. I am looking forward to ushering this bill through the committee to its final reading to see it become law.
If you would like to hear the reading in the Senate today, you can listen to it below.