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Budget offers no surprises despite hopes

Published on March 25, 2010

QUEEN'S PARK - The government missed an opportunity with today's budget to prime the manufacturing engine that is just starting to rev up.

"Today's budget reflects the implementation of some bold and positive steps that were announced last year; particularly relating to HST and reduced tax rates," said Ian Howcroft, vice president of CME Ontario. "However, it fails to offer much in the way of new initiatives that recognize the vital role that manufactures play in creating and sustaining economic growth and job creation." 

There are some targeted actions that will benefit certain constituencies including $150 million Northern Industrial Electricity Rate Program; investment in skills and enabling better labour market transitions and green energy jobs. The budget does not address some key sector priorities including refundable tax credits for research and development; employer sponsored training tax credit and property tax reform.

"CME is also concerned with the length of time that the government has proposed to eliminate the deficit," added Howcroft. "We feel that a combination of administrative efficiencies and targeted measures to drive private sector investment would accelerate the pace of fiscal recovery significantly."

Manufacturing is the key to Ontario's fiscal recovery. 

Canadian Manufacturers & Exporters (CME) is Canada's leading trade and industry association and the voice of manufacturing and global business in Canada.

The association directly represents more than 10,000 leading companies nationwide. More than 85% of CME's members are small and medium-sized enterprises. As Canada's leading business network, CME, through various initiatives including the establishment of the Canadian Manufacturing Coalition, touches more than 100,000 companies from coast to coast, engaged in manufacturing, global business and service-related industries.

CME's membership network accounts for an estimated 82% of total manufacturing production and 90% of Canada's exports. 

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For more information, contact:

Ian Howcroft                                         Paul Clipsham
Vice President                                       Director of Policy
CME Ontario                                         CME Ontario

416-419-6119                                         416-388-6711

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