The PC government of Doug Ford will introduce a new law on Thursday, aimed at reducing the number of regulations companies must meet, the CBC News reported.
Government and industry sources say the legislation will be used to reduce bureaucracy and save tens of millions of dollars to Ontario companies every year.
Premier Doug Ford has often said in press conferences and in the legislature in recent weeks that Ontario has 380,000 book regulations, many regulatory requirements that stifle businesses.
During the election campaign and throne speech, the PCs vowed to reduce the regulatory burden on business. Finance Minister Vic Fedeli also said the government plans to reduce the number of regulations by 25 percent by 2022.
"I know we can cut 25% of our regulations here in Ontario," Economy Minister Todd Smith said in Wednesday's question time. Smith is expected to be the minister presenting the legislation.
"We have to get off the back of our small businesses and midsize businesses, which means we have to get rid of over-regulation," Smith told the Legislative Assembly in November.
This will be the second piece of legislation favorable to PC business in just over a month. In October, they unveiled the Making Ontario Open for Business Act. It overturned nearly all of the reforms to labor laws made by the Wynne government last year, including a provision that gave all employees a minimum of two days of illness per year.
This new bill comes on the final day of the session at Queen's Park before Christmas. The PCs approved a motion on Wednesday to postpone the Legislature one week ahead of schedule. That means that after Thursday morning, Ford and its PCs will not have to face question time again until mid-February.