Finance Minister François-Philippe Champagne says the government wants to boost competition in banking sector, among other regulatory goals.

Finance Minister François-Philippe Champagne says the federal budget provides long-awaited regulatory certainty needed to bolster investment in financial services after years of delays to new regimes that would boost competition in Canada’s highly concentrated banking sector .

Prime Minister Mark Carney’s first federal budget issued the country’s most significant steps yet toward levelling the playing field for small lenders and fintech companies eager to take on the big six banks’ dominant market share.

At the same time, the budget lacked measures to ease previous tax hikes and reduce regulatory burden on Canada’s biggest banks.

“What you’re

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