Mr. Speaker, I am pleased to have the opportunity to respond to the member concerning the recently announced red tape reduction action plan.
Successful entrepreneurs make successful economies, fuelling innovation and productivity gains, and driving job creation and economic growth.
Ensuring an internationally competitive business environment in which entrepreneurs can thrive has been, and will continue to be, a top priority for our government.
Today, Canada is internationally recognized as one of the best places in the world to do business. A solid fiscal standing, with the lowest debt among the leading G7 countries, a competitive tax regime and a robust regulatory system have distinguished Canada at a time when many countries are struggling with rising debt and an increasing tax burden.
Within this solid business infrastructure, the state of entrepreneurship in Canada is relatively strong. However, unnecessary red tape stifles economic growth and job creation. It is a hidden tax that weighs heaviest on the entrepreneurs least able to bear it: small business owners.
If Canada is to maintain its competitive edge, increase productivity and spur innovation, we must constantly strive to improve the conditions for doing business. Thus, we have announced our red tape reduction action plan that promises to further enhance Canada's global reputation.
Most important, our plan responds directly to the needs and concerns entrepreneurs have raised about red tape, saving small businesses both time and money.
The systematic reforms contained in the action plan are game-changers for doing business in Canada and are among the most ambitious of their kind today. Our red tape reduction action plan will cut red tape, make it easier to do business with the federal government and improve service and predictability.
The action plan is a comprehensive response to the Red Tape Reduction Commission's recommendations. The reforms will update the government's regulations and show results through annual reporting.
Principal among the systematic reforms to be implemented over the next three years are the adoption of a one-for-one rule and the application of a small business lens. The one-for-one rule will require regulators to offset new administrative burden costs imposed on business with equal reductions in administrative burden.
Small business owners are at the very heart of Canada's entrepreneurial drive. Yet, because of their more limited resources, small business owners bear a disproportionate burden of red tape.
We are going to change that by introducing a small business lens to regulations. This means that the federal government will be required to assess the impact on small business to demonstrate efforts to keep costs down.
All in all, there is a checklist that regulators will have to fill out and publish. The checklist will drive efforts to minimize burden on small business, avoid duplication and communicate regulatory requirements in clear, plain language.
We are talking about is reducing the time and money small business owners spend filling out forms and reporting information to government. We are trying to find a smarter, less costly way to do business.
Red tape is a costly, hurtful burden on small businesses. Reducing red tape, especially when everyone is looking for ways to keep costs down, is an important thing for government to do. That is what we are doing, so small businesses can do what they do best: innovate, create jobs and grow the economy.