ONTARIO -- Today, the Better Business Climate Act, 2014, passed third reading in the Ontario legislature. The Act will strengthen the province's economy by cutting red tape for business and reducing unnecessary regulatory burdens and practices that cost time and money. Along with burden reduction, the Act will also foster the development of globally competitive economic clusters which help attract investment and talent across Ontario by fostering regional capacity for productivity, innovation, exports, global competitiveness, business attraction and creating well-paying jobs. In collaboration with businesses, academia, labour and non-profits, the government will identify cluster opportunities that take advantage of regionally competitive strengths. Plans will be reviewed at least every five years.
Streamlining business regulation and strengthening key clusters is part of the government's economic plan for Ontario. The four-part plan is building Ontario up by investing in people's talents and skills, building new public infrastructure like roads and transit, creating a dynamic, supportive environment where business thrives and building a secure savings plan so everyone can afford to retire.