Ministry of Finance — Continued

Related Initiatives and Planning Processes

Deregulation and Regulatory Reform

On June 5, 2001, the government made a commitment to reduce the regulatory burden by 1/3 within three years. The Ministry of Finance has completed several major legislative and regulatory reviews that reduced regulatory burden and decreased the associated regulatory requirement count by approximately 39 per cent in three years (25,423 as at June 2004). The ministry's success was mainly attributable to implementation of a new Business Corporations Act, providing for electronic filing at the Personal Property Registry, eliminating unnecessary requirements under the Financial Institutions Act and Credit Union Incorporation Act, and developing a more effective framework for government's financial management policies and procedures.

The ministry is committed to maintaining a zero net increase in regulatory requirements over the June 2004 baseline, and continuing to identify further regulatory reduction and regulatory reform opportunities. This commitment is evidenced by the implementation of the Real Estate Services Act and Real Estate Development Marketing Act on January 1, 2005 resulting in a further four per cent reduction in regulatory requirements, totalling 43 per cent as at March 31, 2005.

Over the next three years, all legislative initiatives will be monitored to ensure that the policies are effective and allow industry, the public, and government to operate in an improved environment of smart regulation.

Overviews of Human Resource Plan and Information Resource Management Plan

Overviews of Human Resource Plan

An overview of the ministry's Human Resource Plan is available on the ministry website at: http://www.fin.gov.bc.ca/serviceplanupdate/2005-06/HRMP.htm.

Information Resource Management Plan

An overview of the ministry's Information Resource Management Plan is available on the ministry website at:
http://www.fin.gov.bc.ca/serviceplanupdate/2005-06/IRMP.htm.