Nova Scotia premier wants his province to become Canada's startup capital

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The Nova Scotia government announced Wednesday it will eliminate all regulatory fees for new businesses during their first two years in operation.

The pledge stems from recommendations by the government's Economic Growth Council, an advisory group that is helping draft the province's post-pandemic economic recovery plan.

In all, the council submitted 16 recommendations to Premier Iain Rankin's Liberal government Wednesday -- all of them focused on immediate and short-term actions.

Rankin issued a statement saying he wants Nova Scotia to become Canada's startup and scale-up capital.

To do that, he says the government will cut an additional $30 million in what he called "unnecessary regulatory burden" to spur more growth by the end of next year.

The premier is also promising to reduce the "unnecessary administrative burdens" on physicians, and he is pledging to create a one-stop shop for startup permits.

"The council acted swiftly to provide its first set of recommendations on how best to position Nova Scotia's economy as we begin our post-pandemic recovery," Rankin said in a statement.

This report by The Canadian Press was first published July 7, 2021.