“The top obstacles for Canadian businesses continues to be rising input costs, difficulties hiring workers, and supply chain challenges. Rising costs remain by far the number one obstacle for Canadian business right now,” said Tapp. “These cost pressures will continue to fuel inflation, which will add further pressure for the Bank of Canada to continue raising interest rates at a super-sized pace in their attempt to bring inflation under control,” he added.
(OTTAWA) – June 29, 2022 – The Canadian Chamber of Commerce’s Senior Vice President, Policy and Government Relations, Mark Agnew, issued the following statement regarding the upcoming review of the Competition Act.
“Strong, robust competition laws are critical for economic growth. Businesses need clear rules and a level playing field in order to innovate and grow, as well as for our country to attract investment.
The Canadian Chamber welcomes the government’s intention to review the Competition Act to ensure it includes best practice. However, this review must be well-researched and durable. We are calling on the government to appoint an arms-length expert panel to develop recommendations on potential changes to the Competition Act.
An expert panel should include input from the broadest possible range of Canadian stakeholders to address concerns in a variety of sectors and provide balanced recommendations that ensure Canada remains globally competitive. Modelled on the approach taken by the Wilson Panel nearly 15 years ago, an expert panel will be critical to ensuring a multi-stakeholder approach and avoiding a politicization of the process.
An expert panel would also more effectively capture views from the full spectrum of non-government stakeholders versus omnibus legislation. Additional changes to the Competition Act without adequate consultation and analysis will likely lead to unintended consequences for businesses of all sizes, innovation and economic growth in Canada.
The Canadian Chamber looks forward to working with the federal government to make this a reality and ensure Canada’s Competition Act meets the needs of Canadians and our business community.”
About the Canadian Chamber of Commerce — The Future of Business Success
The Canadian Chamber of Commerce is Canada’s largest and most activated business network — representing 450 chambers of commerce and boards of trade and more than 200,000 businesses of all sizes, from all sectors of the economy and from every part of the country — to create the conditions for our collective success. The Canadian Chamber of Commerce is the undisputed champion and catalyst for the future of business success. From working with government on economy-friendly policy to providing services that inform commerce and enable trade, we give each of our members more of what they need to succeed: insight into markets, competitors and trends, influence over the decisions and policies that drive business success and impact on business and economic performance.
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