An independent study commissioned by the Competition Bureau of Canada has found that removing regulatory barriers could significantly boost the Canadian economy. The research indicates that a more competition-friendly regulatory environment could lead to a GDP increase of 6.5% to 10% over the long term.

The study, titled 'The Potential Impact of Pro-competitive Regulatory Reforms on Productivity and Growth in Canada,' was conducted by international experts and published in the International Productivity Monitor. It highlights that current regulations in key sectors such as energy, transportation, retail distribution, and professional services are overly restrictive.

By reforming these regulations, Canada could foster innovation, close the productivity gap with leading economies, and improve living standards. The study also suggests that additional economic benefits could arise from reducing trade barriers within Canada, facilitating worker mobility between provinces, and attracting foreign investment.

Jeanne Pratt, Acting Commissioner of Competition, emphasized the potential gains from pro-competitive reforms, noting that recent efforts to eliminate internal trade barriers demonstrate that such changes are achievable. The study serves as a compelling argument for implementing reforms that can drive economic growth while maintaining essential regulatory objectives related to health, safety, and environmental protection.