Nova Scotia

Economic Growth Council Releases Recommendations
Last week, Premier Iain Rankin released the recommendations from the Nova Scotia Economic Growth Council, a group tasked with creating a roadmap for inclusive and sustainable economic growth across the province. The Council, chaired by former MP Scott Brison, developed 16 recommendations, which are grouped as follows:

• Reopening, Start Up/Scale Up Support
• Reducing Internal Trade Barriers
• Government Service
• Housing as a Strategic Sector
• Regulatory Governance and Burden Reduction

Of particular interest to credit unions is the focus on removing regulatory barriers to business development. The province is hoping by streamlining the process to create new ventures and decreasing the amount of regulatory benchmarks, more economic development, both new and expansions, will increase. Credit unions may also be interested in the recommendation for an increased focus on affordable housing and easing residential and commercial development barriers. The group will continue their work and present additional recommendations in the Fall.

For the full list of recommendations, click here.

Newfoundland and Labrador

Letter to Service NL re: Credit Union Regulations Process
Following the June 25 meeting with Service NL ADM Scott Jones, CCUA and Newfoundland and Labrador CUMA Chair Shanti Samaroo send a letter to Mr. Jones outlining the agreed-upon process for next steps in the Credit Union Regulations consultation. To read the letter to ADM Jones, click here.

In an emailed response to the letter, Mr. Jones has confirmed the timelines stated in the letter, including a plan to meet with NL CUMA in late August.

We will continue to provide updates on developments in the consultation process for the Credit Union Regulations. If you have any questions, please contact Jenn English.