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Next government must focus on business prosperity to secure Ontarioʼs economic future: CME

Published by CME webmaster on June 20, 2011

Ontarioʼs next government must better its standing as apreferred destination for business investment, innovation and job creation to sustain the ongoingeconomic recovery, 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 could 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 Ontarioʼs fiscal stability.

"We cannot 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 the standard of living Ontarians expect and enjoy."

CME directly represents roughly one million Ontario voters.

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