Since making and enforcing regulations is at least one-third of what governments do, the author argues Canada should set an annual federal regulatory agenda, like those for taxation and spending.
Red Tape, Red Flags: Regulation for the Innovation Age
Red Tape, Red Flags: Regulation for the Innovation Age
Canadian Economic Analysis
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Making and enforcing regulations and rules is at least one-third of what governments do. This analysis of regulation in the innovation age makes some broad comparisons between regulation, taxation and spending, in order to discuss a strategic gap in Canada’s governance: the lack of an overall federal regulatory agenda.
The author advances three central arguments: that the red-tape and red-flag issues that concern Canadians are no longer as diametrically opposed as they once were; that current federal policy is based far too much on a one-regulation-at-a-time approach; and that the federal government needs to develop a strategic approach to setting priorities for new regulations, similar to agendas for taxation and spending. He also argues that Canada should establish a Regulatory and Risk Review Commission to provide arm’s-length expert advice.
The study includes case studies of the complex regulatory regimes governing three fields: pharmaceuticals, biotechnology and energy.
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