Textbook Notes (368,448)
Canada (161,886)
Management (865)
MGM102H5 (217)
Chapter 5

Ch.5 The Role of Government in Business.pdf

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Dave Swanston

Ch5 The Role of Government in Business February2714952 AMGOVERNMENT AFFECTS BUSINESS Govt activities that affects business Six categories GOVERNMENT INVOVEMENT IN THE ECONOMYCanada has a mixed economy In 1867 the federal govt was given the power to regulate trade and commerceNational Policy govt directive that placed high tariffs on imports from the US to protect Canadian manufacturing which had higher costsCanada had laws to raise tariffs that protect Canadian economyNorth Americanfree Trade AgreementCanadaPeru Free Trade AgreementCanadaEuropean Free Trade Association all focused on the elimination of tariffsDifferent level ofgovernment are large employers in the countryCROWN CORPORATIONS1Crown corporationcompanies that are owned by the federal or provincial governmentsProvided services that were not being provided by businesses ex Air CanadaBail out a major industry in troubleex Canadian National RailwaySpecial services ex Bank of CanadaProvides special services Bank of CanadaOwns provinces electric power company HydroQuebec generates highest revenue of 127billion in 2008 The financial role of two special provincial crown corporationsThe Alberta heritage Savings Trust Fund2008 145billionas a result of the oil boom The Caisse de depot et placement du Quebec 2008 2204billionHandle the funds collected by the Quebec pension planWas set up parallel to the Canada Pension Plan in 1966Powerful investment vehicle that guides economic development in QuebecThe role for government Intended to reduce govt intervention in the economy since 1990sDuring the times many of the crown co were soldPrivatizationprocess of govt selling crown corporationsdisposal of govt assets and companiesTeleglobe Canada Air Canada and Canadian National Railway CNRProvincial govtsells Highway ON sells share in landregistry firm Saskatchewan and sell BC Rail Ltd BCMunicipal water systems garbage collection and cleaning Lower costs and improve efficienciesLAWS AND REGULATIONS2Laws and regulation are created by politicians who are elected by Canadians Different parties affect and influence business differently British North American Act 1867 BNA actpower to make laws by Canadian Confederation also referred as the Constitution ActFederal government responsibilitiesPrimary responsibilities ensure and support the countrys economic performanceTrade regulations incorporation of federal companies taxation directindirect fisheriesMGM102 Page 1
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