New legislation will enshrine in law a commitment to publish annual provincial reports on regulatory accountability in B.C., fulfilling a commitment made in 'Canada Starts Here: The BC Jobs Plan', Finance Minister Kevin Falcon announced.

The legislation requires that the report be made public by June 30 of each year. Under the proposed regulation, the report will:

• Identify government regulatory reform goals and objectives.
• Provide the current regulatory count and explain the methodology of the count.
• Provide an assessment of what the government has done over the year to simplify and streamline regulatory requirements.

The new legislation demonstrates government's ongoing commitment to reduce the red tape burden citizens and small businesses face. It also makes British Columbia the Canadian leader in regulatory reform as the first jurisdiction to enshrine in law a commitment to publish annual reports on regulatory reform.

Quotes:

Laura Jones, senior vice-president, Research, Economics & Western Canada, Canadian Federation of Independent Business -

"Reducing red tape is about unleashing entrepreneurship. For ten years, B.C. has shown the rest of Canada how it can be done. The Province gets an A+ from CFIB for its latest move. This level of red tape accountability is unprecedented anywhere in Canada."

Quick Facts:

• Since 2001, B.C. has reduced regulatory requirements by more than 42 per cent.
• Number of regulatory requirements in 2001: 360,295.
• Number of regulatory requirements today: 205,992.
• This exceeds the Province's original target of reducing regulatory requirements by 33 per cent.
• The Province has committed to a zero net increase in regulations - a commitment now extended to 2015.

Media Contact:

Jamie Edwardson
Communications Director
Ministry of Finance
250 356-2821