It is the duty of the Government of Canada to respect Parliament and the authorities granted by Parliament, as expressed in legislation; and to ensure that regulations result in the greatest overall net benefits to current and future generations of Canadians. In fulfilling this duty, departments and agencies will be guided by four principles:
- Regulations protect and advance the public interest and support good government: Regulations are justified by a clear rationale in terms of protecting the health, safety, security, social and economic well-being of Canadians, and the environment.
- The regulatory process is open and transparent: Regulations, and their related activities, are accessible and understandable, and created in an open, transparent, and inclusive way that meaningfully engages the public and Aboriginal peoples early on.
- Regulatory decision-making is evidence-based: Proposals are made, and decisions are based, on evidence, robust analysis of costs and benefits, and the assessment of risk, while being open to public scrutiny.
- Regulations support a fair and competitive economy: Regulations should aim to support and promote inclusive economic growth, entrepreneurship, and innovation for the benefit of Canadians and businesses. Opportunities for regulatory cooperation and the development of aligned regulations should be considered wherever possible.