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Economic stability, standard of living must be top priorities for Ontario’s next government: CME

Published by Derek Lothian on September 07, 2011

TORONTO (September 7, 2011) -- Ontario's next government must better its standing as a preferred destination for business investment, innovation and job creation to sustain the ongoing economic recovery and maintain the standard of living Ontarians expect and enjoy, according to Canadian Manufacturers & Exporters (CME).

In an open letter to party leaders, CME commended the province for its progress on several important issues, such as the introduction of the HST, but stressed the need for continuous improvement focused on five key priority areas: energy affordability, tax reduction, people and skills, regulatory efficiency and infrastructure.

"This is a critical time for Ontarians as our economy emerges from deep recession," explains Ian Howcroft, vice president, CME Ontario. "The strength of the Loonie, surging commodity prices and an uncertain outlook for our trading partners should clearly remind us of the risks that jeopardize economic growth."

The letter also highlighted other noteworthy pressures -- including unprecedented levels of borrowing by governments and consumers, an aging population, and rapid advancements in technology -- that pose a significant threat Ontario's fiscal stability.

"We can't count on borrowing our way to prosperity," says Howcroft. "We must rely on business investment and competitiveness to drive the recovery, increase productivity and guarantee the long-term economic growth necessary to maintain a quality of life that is the envy elsewhere in the world."

CME directly represents roughly one million Ontario voters. For more information on CME's positions and recommendations, read the letter to party leaders.


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