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NDP policy announcement sends mixed signals to manufacturing: CME

Published by Brad Fougere on January 27, 2015

Canadian Manufacturers & Exporters (CME) applauds the priority that NDP leader Thomas Mulcair placed on Canada’s manufacturing sector in his policy announcement today in Ottawa. Mulcair said the NDP, if elected would extend the Accelerated Capital Cost Allowance (ACCA) for two years and introduce a manufacturing innovation tax credit. 

 

“A strong manufacturing sector is vital to sustaining high-paying jobs for Canadians,” said CME President and CEO Jayson Myers. “There is clearly a widening consensus among all federal political parties that the Government has an important role to play in accelerating investments in new products, new technologies and the new skills required to compete in a highly innovative and competitive market.”

 

“A renewal of the Accelerated Capital Cost Allowance for manufacturing investments in machinery and equipment will help drive investments in new technologies,”  Myers said. “The tax credit the NDP is proposing for R&D related capital expenditures will also help Canadian manufacturers develop, test and commercialize the next generation of products and technologies.”

 

CME also applauds the lower tax rate that the NDP is proposing for small businesses. “The idea of keeping more money in the hands of companies to invest in growing their business is important,” said Myers. "That applies to businesses of all sizes. I am concerned that the higher general corporate income tax rate the NDP is also proposing threatens to erode investment, put jobs at risk and offset other more favourable tax measures."

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