Canada’s Financial Rules May Be Holding Growth Back (C.D. Howe)

Canada’s weak growth, low investment and lagging innovation point to the need for a more modern regulatory philosophy that balances both protection and progress, according to a new report from the C.D. Howe Institute.

In “Pruning the Rulebook: Canada’s Financial Regulatory Scorecard, Year Two,” Gherardo Caracciolo’s updated findings revealed similar results to last year's scorecard: despite mounting economic challenges, Canada’s regulators have largely maintained the same priorities. He finds that consumer protection and financial stability continue to dominate, while competition and innovation remain secondary concerns ...

... report highlights how countries like the United States, the UK, and Australia deliberately embed economic dynamism and efficiency among their regulatory goals. Canada’s more protection-focused approach reveals a sharp contrast, reflected in the administrative burden and steadily rising compliance costs faced by businesses ...

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