Reducing Nova Scotia’s Regulatory Burden
A strong, efficient and effective regulatory environment is a hallmark of a high-functioning, efficient and sustainable economy.
In 2017, government set a target to reduce unnecessary regulatory burden to Nova Scotia business by $25 million by the end of 2018. The target is based on an estimate of the overall regulatory burden to Nova Scotia business of approximately $560 million, and, specifically getting at ‘undue burden’, estimated by business at approximately $200 million.
When achieved, the $25 million net burden reduction will equate to an approximate 10 per cent reduction in undue burden to Nova Scotia business.This bold target and aggressive timeframe underscores the role and importance of regulatory reform as part of a broader effort to create the conditions for economic growth and prosperity.
What is regulatory burden?
Regulatory burden or ‘red tape’ is the time and cost business spends dealing with outdated, overly complex or duplicative rules and processes or unnecessary paperwork that provide little or no value to consumers, employees, the environment, government or businesses.
Reducing regulatory burden
Regulatory burden is reduced by changing how government regulates. It begins with exploring other ways of doing things, such as education, before introducing new rules.
When evidence indicates regulation is the best option, burden can be reduced by developing rules with the ‘lightest touch’ and with the input of those who will be impacted.
Burden is also reduced when government makes compliance easier through service and process improvements, which can reduce the time it takes to get accurate information or approvals. Finally, burden can be reduced by eliminating rules that are unnecessary or duplicative.
A bold new target: $25 million burden reduction
The $25 million burden reduction target is a net target and has two components:
- Stabilize the current burden: Every $1 in new regulatory costs to business will be offset by a $1 in savings.
- Reduce the burden by $25 million: Eliminating or changing costly and outdated rules, improving government processes and service to make compliance easier.
Tracking our progress
All actions that contribute to the overall regulatory burden are costed using the Business Impact Assessment. The costing tool, developed by the Office with input from the business community, is used across government to estimate the costs and savings of all regulatory proposals, which are assessed and tracked by the Office.
The regulatory costing tool considers:
- Upfront costs or savings businesses incur due to a regulatory addition or change
- Ongoing costs or savings businesses will realize due to a regulatory addition or change
- Time and fee costs or savings businesses will realize due to a regulatory addition or change
Watch this short video about Reducing regulatory burden on business by $25 million by end of 2018
Watch this short video about Business Impact Assessment
Office of Regulatory Affairs and Service Effectiveness
Suite 302, Collins Bank Building
1883 Upper Water Street
Halifax, NS B3J 1S9