Red tape is a silent killer for business. It stops entrepreneurs from getting started and prevents business owners from growing and innovating; and it needlessly wastes one of the most valuable commodities for a business owner which is time.

Premier Tony Wakeham has stated “Instead of leading the country in red tape, I want to lead the country in red tape reduction. I want to cultivate a strong and prosperous business community focused on long term growth.” This campaign promise is strongly welcomed and is one of the most cost-efficient ways the Government of Newfoundland and Labrador can generate economic growth internally and welcome investment into the province.

Government should:
1. reduce red tape by establishing dedicated resources reporting directly to Premier’s office.
2. set annual targets for red tape reduction and provide annual reports on outcomes.
3. set annual targets for the business navigator and provide annual reports on outcomes.
4. eliminate all nonsense regulations.
5. adopt sunset clauses in new and existing regulations.
6. digitize all applications, where it makes sense.
7. introduce regulatory sandboxes to allow temporary exemptions for innovative businesses.
8. collaborate with municipalities to standardize permitting processes across the province.

These are just a few examples of how the new Government of Newfoundland and Labrador can take meaningful action with red tape reduction. Red tape does not limit itself to business. Other provinces have made it a priority to reduce red tape in healthcare by freeing doctors from administrative burden and expanding the scope of practice for other healthcare professionals. Reducing red tape in housing has also been successful in other jurisdictions and has allowed homeowners and developers to build with more certainty and reduced costs.

Hearing Premier Wakeham’s remarks on red tape is a welcome message for all businesses and we are confident that if his government chooses to take bold action against red tape, that Newfoundlanders and Labradorians will quickly see the benefits.