The co-operative sector in Ontario is very pleased with the commitment from the provincial government to modernize the co-operative legislation. The announcement was made yesterday in the Fall Economic Statement.

Co-operative businesses in Ontario have been advocating for improved legislation for fifteen years to better meet the needs of communities across the province. The conservative government has heard from our 1,500 co-operatives and has responded with improvements that will reduce red tape and provide stable jobs to Ontarians.

“This is an exciting day for our member co-operatives that do amazing work in their communities with a focus on a triple bottom line of people, planet and profit,” said Erin Morgan, Executive Director of the Ontario Co-operative Association.

Specifically, the improvements to the legislation will eliminate the requirement to do 50% of business with members to allow co-operatives to compete and innovate on a level playing field with all businesses in Ontario. The updates to audit rules will reduce administrative burdens on community owned co-operatives and allow their income to fund increased services.

Ontario’s co-operatives look forward to a continued positive relationship with government, an improved legislative environment and a successful future of economic growth and improved community access to goods and services delivered through democratic, values-based businesses.

source: media Release