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Tenuous recovery needs a boost: CME

Published by CME webmaster on February 01, 2011

QUEEN’S PARK – Ontario’s weakened recovery needs a boost, according to a provincial pre-budget submission by Canadian Manufacturers & Exporters (CME) that focused on key fiscal priorities that will ensure continued growth in the province’s largest business sector.

“While things improved in 2010, there are still a number of challenges that need to be addressed so we can sustain growth,” said CME Ontario Vice President Ian Howcroft.

CME Ontario’s recommendations included continuation of the SMART Program partnership between the government and CME. The program has helped hundreds of companies improve productivity and create or retain thousands of jobs.

“The comprehensive tax package including corporate tax cuts and Harmonized Sales Tax (HST) have greatly helped manufacturers become more competitive, enabling them to make investments and generate wealth,” added Howcroft. “These reforms have made Ontario a much more attractive destination for investment.”

CME urges the Ontario government to eliminate input tax credit restrictions on HST as quickly as fiscally possible and to look at greater property tax equity and monetization of tax credits like SR&ED as opportunities to stimulate further investment in innovation and economic growth.

“This is an opportunity to address persistent barriers to growth including the regulatory burden that businesses face; WSIB unfunded liability; pension funding issues and energy costs,” Howcroft advocated. “These are areas that may not cost government much and make a huge difference for manufacturers and exporters.” 

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.

For more information, contact:

Ian Howcroft   
Vice President       
CME Ontario 

Paul Clipsham
Director of Policy
CME Ontario

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