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Recently, the Council of Atlantic Premiers made new commitments to improve regional regulatory efficiency in areas identified by the Atlantic Provinces Economic Council (APEC).
In terms of time and money, the move away from four approaches towards one shared approach across our Atlantic region is significant and unprecedented in its potential savings to your business.
Two relatively small initiatives already complete – the alignment of minimum wage changes and record-keeping requirements – are estimated to currently save Maritime businesses $440,000 every year.
The new commitments include:
|The Premiers have pledged to continue enhancing regulatory effiency in order to make it easer for businesses to succeed and expand throughout Atlantic Canada.|
These commitments are in addition to work already completed or underway, which includes:
When you take into account the most recent commitments, we anticipate regional regulatory efficiency will save Atlantic businesses millions of dollars annually. These are substantial savings realized without compromising much-valued environmental, employee, customer and health protections – all of which are hallmarks of a strong regulatory climate.
The four Atlantic provinces have also:
A model to assess the business impact of regulations is well underway in Nova Scotia and is soon to be implemented across the region.
Find out more about regional regulatory reform in Atlantic Canada.