Government co-op committee releases new report
Tuesday, September 18, 2012
Based on hearings and deputations held earlier this year, The Status of Co-operatives in Canada report makes 8 specific recommendations:
- Highlight the role co-ops play in the economy by educating government employees on the nature and benefits of co-ops.
- CMHC should continue to support housing co-ops by providing reasonable mortgage and refinancing services.
- Explore the feasibility and cost of allowing Canadians flexibility to invest RRSP funds in co-operatives.
- Ensure that regional economic development agencies promote the co-op model along with other business models,and should make sure their officers have a clear understanding of how co-operatives work and are supported through existing federal programs, so that they may promote these programs.
- Review the issue of capitalization of co-operaitves, including its causes, effects, and potential solutions.
- Review the Co-operative Corporations Act in consultation with the provinces and territories to determine whether updates are advisable.
- Consolidate responsibility for co-ops under a single suitable department, such as Industry Canada, if possible.
- Continue to reduce red tape burden for co-operatives.