Thursday, June 26, 2008

Canada's Competition Review Panel Report is Out

Posted by D. Daniel Sokol

Competition Policy Review Panel issued its long awaited report to the Minister of Industry. A summary of the report is available at:

The full report is available at$FILE/Compete_to_Win.pdf.

Specific policy  recommendations to the federal government include:

  • Amending the Investment Canada Act to reduce barriers to foreign investment by increasing review thresholds; reversing the onus to require the government to demonstrate that an investment would be contrary to the national interest before disallowing a transaction; increasing transparency and predictability; and preserving a distinct approach for the cultural sector while also initiating a broad review of Canada’s cultural policies;
  • Liberalizing investment restrictions in the Canadian air transport, uranium mining, and telecommunications and broadcasting sectors, and removing the de facto ban on mergers in the financial services sector;
  • Updating and modernizing the Competition Act in line with best practices internationally;
  • Creating a Canadian Competitiveness Council to give voice to and advocate for competition in Canada, and ensure sustained attention by governments on national competitiveness.

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