Despite fears from many Canadians that the new Carney government would follow down the same path as the anti-business Trudeau government, so far that has not been the case. The initial steps being taken by Mark Carney and his government appear to appeal to those closer to the center, where most Canadians likely consider themselves, and less to the far left Trudeau fringe of the population.
Case in point today’s announcement that the Canadian government will be taking a hard look at the regulatory and red tape burden that has become par for the course for many Canadian businesses.
Canada’s new government has launched a review of federal regulations — to cut the red tape holding back our economy.
It’s time to make government processes more effective so we can build the strongest economy in the G7.
— Mark Carney (@MarkJCarney) July 9, 2025
The level of red tape and regulatory burden faced by Canadian businesses is stunning. From the official press release:
- According to the Canadian Federation of Independent Business (CFIB), the combined cost of regulation to businesses from all three levels of government was estimated at $51.5 billion in 2024, with approximately $17.9 billion attributed to red tape. In 2024, CFIB found that the average business spent 735 hours (92 days) on regulation, 256 hours (32 days) of which was spent on red tape.
Click below to see the full new release:
Government of Canada moves forward to modernize outdated regulations and reduce red tape