{"id":1173,"date":"2022-11-04T12:12:22","date_gmt":"2022-11-04T04:12:22","guid":{"rendered":"https:\/\/www.gochambers.com\/globalupdates\/?p=1173"},"modified":"2022-11-04T12:12:22","modified_gmt":"2022-11-04T04:12:22","slug":"canadas-long-term-economic-strategy-focus-on-productivity","status":"publish","type":"post","link":"https:\/\/www.gochambers.com\/globalupdates\/latest-news\/canadas-long-term-economic-strategy-focus-on-productivity\/","title":{"rendered":"Canada&#8217;s Long-Term Economic Strategy Focus on Productivity"},"content":{"rendered":"<p>(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&#8217;s Fall Economic Statement for 2022:<\/p>\n<p>&#8220;It has never been more important to drive long-term business growth, investment, and competitiveness in Canada,&#8221; said Rocco Rossi, President and CEO of the Ontario Chamber of Commerce. &#8220;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.&#8221;<\/p>\n<p>We applaud the federal government&#8217;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.<\/p>\n<h5>For Budget 2023, we would like to see the federal government:<\/h5>\n<ul>\n<li>Increase Ontario&#8217;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.<\/li>\n<li>Invest in supply chain infrastructure to address bottlenecks along the supply chain, particularly at ports.<\/li>\n<\/ul>\n<ul>\n<li>Protect Canada&#8217;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.<\/li>\n<li>Modernize regulatory frameworks to allow for growth in industries such as mining and cannabis.<\/li>\n<li>Working with provinces and territories to remove barriers to interprovincial labor mobility and trade should be a top priority.<\/li>\n<li>Increase Canada Health Transfer Payments to meet current and future challenges to Canada&#8217;s universal health care system.<\/li>\n<li>To encourage foreign direct investment, domestic business growth, and innovation, the federal tax system should be reformed.<\/li>\n<\/ul>\n<p>&#8220;Some of Canada&#8217;s most competitive industries, such as manufacturing, critical minerals, and clean energy, are located in Ontario.&#8221; &#8220;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,&#8221; Rossi added.<\/p>\n<p>The OCC makes recommendations to the federal government based on the input of its 60,000 diverse members. The OCC&#8217;s federal budget submission for 2022 can be found here.<\/p>\n<p><strong>About the Ontario Chamber of Commerce<\/strong><\/p>\n<p>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&#8217;s Park on behalf of its diverse 60,000 members.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>Source : <span style=\"color: #000000;\"><a style=\"color: #000000;\" href=\"https:\/\/occ.ca\/mediareleases\/canadas-long-term-economic-strategy-must-maximize-productivity\/\">mediareleases<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(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&#8217;s Fall Economic Statement for 2022: &#8220;It has never been more important to drive long-term business growth, investment, and competitiveness in Canada,&#8221; said Rocco Rossi, President and CEO [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":1174,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[3],"tags":[385,55,29,84,62],"class_list":{"0":"post-1173","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-latest-news","8":"tag-canada","9":"tag-chamber-news","10":"tag-chamber-of-commerce","11":"tag-economic","12":"tag-news"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Canada&#039;s Long-Term Economic Strategy Focus on Productivity<\/title>\n<meta name=\"description\" content=\"The federal government has a long-term economic strategy for driving business growth, investment, and competitiveness in Canada.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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