CFIB Claims $10 Billion is Lost to Red Tape

$10 Billion Lost Due to Red Tape

WINNIPEG – January 20th to 24th is the 11th year that the Canadian Federation of Independent Business (CFIB) will call-for-action to reduce Government Red Tape.

Red Tape Awareness Week has had some success encouraging various levels of governments across the country to take initiatives to reduce red tape. Canada’s ground-breaking Red Tape Reduction Act, for example, traces its roots back to the Red Tape Reduction Commission initiated by the federal government during the second Red Tape Awareness Week.

Regulations cost small businesses $36.2 billion annually, $10 billion of which is unnecessary red tape, according to CFIB’s research.

To learn more visit CFIB.ca/redtape and follow #redtape.

(Story Credit CFIB)

TOPICS:   Business News

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