(Toronto, November 3, 2022) Rocco Rossi, president and CEO of the Ontario Chamber of Commerce (OCC), issued the following statement today in response to the Government of Canada’s Fall Economic Statement for 2022:
“It has never been more important to drive long-term business growth, investment, and competitiveness in Canada,” said Rocco Rossi, President and CEO of the Ontario Chamber of Commerce. “While the last few years called for short-term strategies to help Canadians cope with the pandemic, we are pleased to see the federal government signal a shift to a long-term economic focus driven by investment attraction and productivity.”
We applaud the federal government’s plans to: increase the number of immigrants entering Canada to help with labor shortages; address bottlenecks along supply chains to ensure their long-term reliability; increase research and development to boost innovation and productivity; and increase investments and tax breaks for clean energy to provide sustainable resources for future generations.
For Budget 2023, we would like to see the federal government:
- Increase Ontario’s allocation of economic immigrants through the Ontario Immigrant Nominee Program, address the backlog of immigrants, and streamline recognition of foreign credentialing for sectors with critical labor shortages.
- Invest in supply chain infrastructure to address bottlenecks along the supply chain, particularly at ports.
- Protect Canada’s clean energy advantage by optimizing existing assets such as nuclear and hydroelectricity, as well as by incentivizing long-term investments in emerging technologies such as carbon capture and zero-emission vehicles.
- Modernize regulatory frameworks to allow for growth in industries such as mining and cannabis.
- Working with provinces and territories to remove barriers to interprovincial labor mobility and trade should be a top priority.
- Increase Canada Health Transfer Payments to meet current and future challenges to Canada’s universal health care system.
- To encourage foreign direct investment, domestic business growth, and innovation, the federal tax system should be reformed.
“Some of Canada’s most competitive industries, such as manufacturing, critical minerals, and clean energy, are located in Ontario.” “Supporting high-performing and emerging industries in Ontario through strategic investments and the removal of growth barriers will result in economic benefits for all Canadians,” Rossi added.
The OCC makes recommendations to the federal government based on the input of its 60,000 diverse members. The OCC’s federal budget submission for 2022 can be found here.
About the Ontario Chamber of Commerce
The Ontario Chamber of Commerce (OCC) has been the independent, non-partisan, and indispensable partner of Ontario business for more than a century. The mission of the OCC is to promote economic growth in Ontario by defending business priorities at Queen’s Park on behalf of its diverse 60,000 members.
Source : mediareleases
