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Ontario Government Cutting Red Tape for Investors

Ontario Government Cutting Red Tape for business

Ontario Government Cutting Red Tape to Make Ontario a Top Destination for Global Investments

The Ontario Government claims to be cutting red tape to make it easier for international companies to invest, do business and create jobs in the province.

Today, Premier Doug Ford spoke at the 2018 Toronto Global Forum, an event organized by the International Economic Forum of the Americas.

“I want to send a clear message to the world that here in Ontario, we are ready to do business once again. For too long, job creators in Ontario have been burdened by inefficient, excessive and inflexible regulations. By cutting red tape, we’re telling international companies and partners that doing business with Ontario is the right move.”

Ontario Premier Doug Ford

Premier Ford discussed the action the government is taking to lighten regulatory burdens to cut costs to businesses, streamline processes, reduce barriers to investment and harmonize regulatory requirements across municipal, provincial and federal levels. These actions are supposed to make it easier for companies from around the world to invest, grow and create jobs in Ontario.

“We promised to make it easier to do business in Ontario. We’re attracting companies and jobs to the province by removing outdated, duplicated and unnecessarily complicated regulations that weigh them down,” said Ford. “By cutting red tape, Ontario will become a top global destination for international trade and business.”

QUICK FACTS

  • The government recently passed the Making Ontario Open for Business Act, which it says, makes it easier for Ontario employers to hire, and will ensure workers have easier access to jobs and career growth.
  • The government’s efforts to modernize and transform Ontario’s skilled trades and apprenticeship system means that businesses should have an easier time finding and hiring the skilled workers they need.
  • Removing development barriers across municipalities should cut red tape and shorten the time it takes to build projects and get businesses up and running.
  • The province says businesses in Ontario currently face the highest cost to comply with regulations of any province — at $33,000 per company. That’s much higher than the $25,000 to $27,000 range in most other provinces.
  • The government say they are committed to cutting red tape affecting businesses by 25 per cent as part of its multi-year Ontario Open for Business Action Plan.

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