Forcing sudden changes to the Competition Act without adequate consultation risks weakening competition between Canadian companies and harming their ability to compete abroad
Goldy Hyder is president and chief executive officer of the Business Council of Canada.
Among the changes in C-56 is empowering the minister of industry, if they are “of the opinion,” to direct the commissioner of competition to conduct an inquiry into the state of competition of a market or industry. This is the outright and overt politicization of the competition regime. Under the current law, such an inquiry is only initiated by the commissioner if certain anti-competitive behaviours are suspected.
Worse still, few companies, foreign or domestic, will seek to make significant investments in a country that changes its corporate laws so capriciously. If the goal is to attract new entrants into the Canadian market, it’s difficult to conceive of a worse way for us to achieve it. There will be less choice for consumers, contrary to the legislation’s goal.
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