Removing internal trade barriers could boost Canada’s economy by $200 billion: CFIB
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The CFIB released its annual State of Internal Trade report.
Half of Canada’s small businesses say interprovincial trade barriers are contributing to our economy’s low productivity, and all levels of government need to take decisive action to address this problem, the Canadian Federation of Independent Business said. “Recent research has found that eliminating internal trade barriers could add $200 billion annually to Canada’s economy,” Keyli Loeppky, Director of Alberta and Interprovincial Affairs for CFIB, said in a report. “Amid soaring business costs, inflationary pressures, high interest rates, and persistent labour shortages, the need to remove barriers is more urgent than ever. Doing so will expand choices for goods and services, secure supply chains, and make life more affordable for all Canadians.” The CFIB released its State of Internal Trade report, an assessment of the internal trade barriers that the group says are an important factor in Canada’s persistently weak productivity.
