Conservatives vow Canada businesses to see 25% less red tape

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(Bloomberg) — Conservative Leader Pierre Poilievre promised to wake up the Canadian economy from the “red-tape-induced slumber” in his latest pitch to businesses ahead of the April 28 election.

Poilievre — whose party is trailing Mark Carney’s Liberals in most polls — said Saturday that his government will cut 25% of all red tape within the first two years and require two regulations be repealed for every new one imposed.

His proposal for so-called ‘two-for-one’ law is a more aggressive version of the existing Red Tape Reduction Act that enforces a one-for-one rule. He will also mandate that for every dollar in new administrative costs, two dollars must be cut elsewhere.

Federal regulatory requirements on businesses have increased by about 15% to more than 149,000 under the Liberal government, costing firms at least C$51 billion ($35.9 billion) annually, Poilievre said in a statement ahead of a campaign stop in Osoyoos, British Columbia.

While he didn’t specify federal provisions that will be targeted, the Canadian Chamber of Commerce said trade and labour policies as well as tax regulations can create a burden on small businesses. He had earlier pledged to scrap a law blocking pipelines and speed up approvals of energy infrastructure projects.