Urgent Call for Reducing Trade Barriers
A recent survey by KPMG has highlighted a pressing concern among Canadian business leaders: the need to reduce internal trade barriers across provinces. The report, conducted between May 9 and May 20, revealed that nearly two-thirds of the 250 surveyed business owners, or 64 percent, consider the removal of interprovincial trade barriers and the harmonization of regulations and credentials a top government priority. This sentiment stems from the belief that such barriers hinder economic growth and productivity on a national scale.
The urgency of this issue is further underscored by the finding that 82 percent of respondents believe eliminating these barriers would directly improve their company's efficiency and productivity. Business leaders are calling for a unified approach to regulations, which currently vary widely between provinces, creating unnecessary hurdles for companies operating in multiple regions.
Economic Impact and Additional Priorities
The economic implications of interprovincial trade barriers are significant, as they create inefficiencies that can stifle business growth. The KPMG survey points to a broader desire for policy changes that would foster a more competitive business environment in Canada. Beyond trade barriers, 58 percent of respondents identified a comprehensive tax review as another critical area for improving competitiveness, suggesting that fiscal policy reform is also high on the agenda.
Additionally, 56 percent of business leaders urged the government to streamline processes and accelerate major infrastructure projects alongside resource allocation. These measures, they argue, would provide the necessary support for businesses to thrive in a challenging economic landscape. The consensus is clear: reducing internal barriers is not just a standalone issue but part of a larger framework needed to boost Canada's economic vitality.
Broader Implications for Canadian Policy
The findings of the KPMG survey reflect a growing frustration among Canadian businesses with the fragmented nature of internal trade policies. Recent legislative efforts, such as Manitoba's introduction of The Fair Trade in Canada (Internal Trade Mutual Recognition) Act on May 22, signal that some provinces are beginning to address these concerns. This act aims to foster greater economic integration by recognizing credentials and regulations across provincial lines.
As discussions around internal trade barriers gain traction, there is hope that federal and provincial governments will collaborate to create a more seamless economic environment. The push from business leaders, as captured in the KPMG survey, could serve as a catalyst for meaningful policy reform, potentially reshaping how trade operates within Canada's borders. With productivity and efficiency at stake, the call to action for policymakers has never been louder.