First Annual Report Released

first_imgThe Office of Regulatory Affairs and Service Effectiveness released its first annual report today, June 30. The office was created in March 2015 by the governments of Nova Scotia and New Brunswick. Prince Edward Island joined in November, making it a Maritime initiative. The office’s mandate is to reduce barriers for doing business in Nova Scotia and within the region. Over the past year, legislation was introduced and passed in the three provinces, and recordkeeping requirements were aligned. The timing of minimum wage changes was aligned in Nova Scotia and New Brunswick, and Prince Edward Island will align the timing of its minimum wage changes in 2017. The office also: made progress on common documents for procurement with help from the business community and government departments made recommendations to make interactions with workers’ compensation systems simpler announced plans to mutually recognize some safety standards in the region. In addition, the Nova Scotia government reduced red tape through initiatives such as making it easier to get business licences and permits, eliminating some licences, and moving processes and apprenticeship forms online. “Many people in the business community and across government have invested time and effort to identify and help design our early initiatives. Their partnership is not only important, it’s key to making this work,” said Fred Crooks, chief regulatory officer for Nova Scotia. “And while we’ve made good progress at a good pace, there’s more work to be done to create Canada’s best regulatory climate.” In the year ahead, the office will focus on introducing measurement and target setting to reduce regulatory burden and on service improvements around regulation. To view the report, visit http://novascotia.ca/regulatoryopportunity/ .last_img read more

TSX closes in the red Wall Street mixed amid disappointing tech company

TORONTO — The Toronto stock market closed in the red Friday, while major U.S. indexes were with mixed.The S&P/TSX composite index was down some seven points at 13,874 after having slipped 30 points the previous session.In New York, disappointing earnings from several big tech companies weighed on the tech-heavy Nasdaq, which retreated 39.66 points to 4,906.23.The Dow Jones industrial average added 21.23 points to 18,003.75 and the broader S&P 500 gained 0.1 of a point to 2,091.58.Meanwhile, the Canadian dollar rose 0.35 of a U.S. cent to 78.92 cents US.In commodities, the June contract for benchmark crude rose 55 cents to US$43.73 a barrel, while May natural gas shot up 7.2 cents to US$2.14 per mmBtu. May copper added 1.3 cents to US$2.26 a pound, while June gold bullion shed $20.30 to US$1,230.00 a troy ounce. read more