Performance Reporting

The following tables identify the Ministry's performance targets for each objective, and core business, and the actual result attained in 2003/04. Where appropriate, an explanation of any variances between targets and results is included.

		Goal 1: Improving our competitive position in the national and international economy.

		Goal 2: Increasing economic development throughout British Columbia, particularly in the Heartlands.

		Goal 3: Marketing British Columbia as a preferred place to live, visit, invest and do business.

Deregulation

Ministry of Small Business and Economic Development

The Ministry has been a leader in achieving government's deregulation commitment. As of March 31, 2004, the Ministry had achieved a 31 per cent net reduction from its baseline of 2,329 regulatory requirements. The Ministry is on target to reach its planned net reduction of 35.6 per cent in 2004/05.

The Ministry has eliminated 724 unnecessary regulations through the repeal of outdated or obsolete legislation (Small Business Development Act; Special Enterprise Zone & Tax Relief Act; Industrial Development Incentive Act; Natural Resource Community Fund Act; the Job Protection Act; and the Northern Development Act).

As of March 31, 2004, the British Columbia Securities Commission had a net increase of five per cent of its baseline of 21,316. However, major changes are in progress under the Commission's deregulation initiative, which involves an extensive overhaul of securities regulations. This overhaul is targeted to reduce regulatory burden by one-third in 2004/05.

Government Wide Deregulation

The government exceeded its 22 per cent deregulation target for March 31, 2004, with a net reduction of 113,440 unnecessary regulatory requirements. This achievement, under British Columbia's innovative and comprehensive deregulation framework, reinforces that British Columbia is regulating sensibly and thoughtfully, and encourages prosperity, innovation and enterprise across the Province.

British Columbia is unique in imposing rigorous performance standards with tough measurable targets for regulatory reform that will promote smart, effective and efficient regulation. Top priorities are regulations with the most direct impact on competitiveness. Major strides have been made in the areas of employment standards, liquor control and licensing, land use management, and the resource sectors. Many of the changes exemplify the shift towards results-based regulation that will encourage innovation and competitiveness. All ministries and agencies across government are striving for smarter regulation and streamlining to make it easier for all British Columbians to interact with government, and help create new opportunities in all economic sectors across the province, particularly in the Heartlands.