Government announced in 2015 that it would be introducing common legislation with Nova Scotia and New Brunswick to measure and report our regulatory burden. With legislation now passed in other provinces, PEI took the step of tabling legislation in the Spring session.
The Regulatory Accountability and Reporting Act aims to:
- Ensure that new regulations require a full examination of their impact and cost on citizens, businesses, and other organizations;
- Formallly recognizes PEI as a partner in the Joint Office of Regulatory Reform and Service effectiveness with the other Maritime provinces; and
- Outlines the basic structures for adopting a Charter of Governing Principles for Regulation as well as reporting of goals and outcomes from the Joint Office.
This is new legislation in each of the provinces and corresponding regulations will be developed where we will start to see more details around government's plans and promises around meaningful regulatory reform.