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Parliament must focus on economy, investment, job creation: CME

Published by Derek Lothian on September 19, 2011

The economy must be the top priority for the Government and MPs as Parliament resumes today in Ottawa, according to Canadian Manufacturers & Exporters (CME). CME President & CEO Jayson Myers issued the following statement:

With uncertainty increasing in international credit markets and economic and job growth both slowing down, it is vital that federal policy makers focus on financial stability and business investment in order to sustain job creation.

We need the Government to ensure that credit continues to flow to consumers and businesses in the event of another financial crisis. It must also find the efficiencies to stay the course on deficit reduction. These conditions must be met in order to stabilize Canada's financial markets.

But, we also need the Government to follow through with policies that open new markets, encourage business investment in new products and new technologies, and reduce the cost of doing business in Canada.

CME's priorities are clear. The two-year write-off for investments in manufacturing equipment extended in this year's federal budget should be made a permanent feature of Canada's tax system. Our R&D tax credit system should be improved. A tax credit should be provided for employers who invest in workplace training.

Our economic relationship with the United States must take precedence in negotiations to expand and secure market access for Canada's exporters. We need the border to work more efficiently, particularly for trusted shippers and trusted travelers. We need to minimize regulatory differences between our two countries. And, we need to build on the Canada-US Procurement Agreement to avoid new Buy America restrictions on public procurement in the United States. International Trade Minister Fast's leadership is critical in this regard.

We also look to the Government to open international markets for Canadian exports. Our trade negotiations with the European Union and other countries need to result in expanded opportunities for Canadian business.

Canada's manufacturers and exporters are at the forefront on international competition. Their success will ultimately decide Canada's economic recovery.

 

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