Hon. Yonah Martin (Deputy Leader of the Opposition): Actually, another former Bank of Canada governor, Stephen Poloz, last month pointed to the fact that Canada was second to last for productivity performance among the OECD — the Organisation for Economic Co-operation and Development — countries. He said that government red tape and overregulation are impairing Canada’s economic productivity and have created too much uncertainty for businesses.

He said:

I do think that there is a stronger incentive to clean up some of the regulatory issues, the red tapey type of issues that are slowing us down.

Senator Gold, do you agree that we must reduce the government’s red tape? What is the Trudeau government’s plan to reduce red tape and regulatory burden?