Mr. Speaker, the economy wide costs of regulation in Canada are an average $86 billion a year. For a Canadian family of four, like those in my riding of Okanagan Centre, it means annually a cost of $12,000.
Yes, we need regulations. But too many ineffective and inappropriate regulations are stifling Canadians entrepreneurship and thus the economy.
We could avoid this unnecessary burden if federal governments did a few simple things: carry out thorough cost benefit analyses, study the economic impact of regulations and write them in simple language.
Unless we do so, the effect of regulation will continue to create impediments to Canada's competitive position in the global marketplace. For Canadians it will mean an unacceptable and unwelcome level of government intrusion into our lives.