The Canadian Chamber of Commerce and its members said they expected three things from the government in its Budget: that it would stay the course on the recovery plan; lay out a strategy to return to balanced budgets over the medium-term; and focus on how to make Canada more competitive in the international marketplace. We are delighted the government delivered on all three.
Our members said they wanted the government to commit to an agenda to advance a more innovative and competitive economy. The government did so in the Speech from the Throne. The government also committed to continue to increase and diversify our international trade, fight protectionist measures and promote a more open and integrated global economy. These are also priorities for our members. They look forward to the government’s action plan for a digital economic strategy, further implementation of the Competition Policy Review Panel’s recommendations and offering stronger protection to Canadian companies to protect their intellectual property rights, all of which were highlighted as priorities for the government.The Canadian Chamber’s budget analysis can be viewed here.
- Perrin
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Operating on three distinct levels: local, regional/provincial/territorial and national, the Canadian Chamber of Commerce, and its network of chambers across the country, has tremendous impact when it speaks to key influencers and decision-makers on business issues that affect its members.
Although operating in various communities and offering a variety of services and programs to members, our chamber and board of trade members benefit from the collective wisdom of their peers - connecting ideas across towns, sharing best practices through chambers, connecting businesses to advocacy work and policy wins. One way our chamber members connect is through our monthly newsletter: Connections.
Past issues are located here. This valuable tool is sent to our member chambers of commerce and boards of trade. If you’re not a member, click here for more information on membership.
The Speech from the Throne, entitled ‘A Strong Canada. A Strong Economy.’, demonstrates the government’s recognition that while it must address the country’s short-term economic priorities it must also lay out a strategy for Canada’s long-term competitiveness.
According to the Speech from the Throne the federal government will complete the second year of its economic stimulus commitments under Canada’s Economic Action Plan and return Canada to fiscal balance. This has been a core position of the Canadian Chamber of Commerce and its network of more than 340 local chambers of commerce and boards nationwide.
In addition to winding down economic stimulus spending by March 31, 2011, the government said it intends to contain its own costs through such measures as freezing the salaries of the Prime Minister, ministers, members of parliament and senators, as well as by freezing ministerial and departmental budgets. The government will also take measures to improve its efficiency through an aggressive review of its administrative services and departmental spending. It will also eliminate unnecessary federal appointments.
The Canadian Chamber has also told the government that while it is critical to eliminate the federal deficit so that it is not left to future generations to shoulder, increasing the tax burden on businesses and consumers will only slow our economic recovery. This is why the government’s commitment to balance its books without raising taxes is good news for Canada’s businesses and all Canadians.
From the early days of the recession, the Canadian Chamber has said that the government needs to look beyond the recession and equip the Canadian economy to “hit the ground running” in the global economy. We are heartened to see that longer-term initiatives for which the Canadian Chamber has advocated were reflected as priorities in the Speech from the Throne. These include the government’s commitment to a strategy for a digital economy, strengthening intellectual property rights and copyright protection, fostering innovation by expanding opportunities for the commercialization of research and post-doctoral studies, as well as ensuring the country has the skilled workforce it needs through improving the education and training opportunities for Aboriginal Canadians. The Canadian Chamber also looks forward to the re-introduction of an amended spam bill that works for business and consumers.
The importance of the economic contribution made by Canada’s small and medium-sized businesses and the need to reduce the regulatory burdens they face, were specifically acknowledged.
The need to expand the scope of Canada’s international trade, fight trade protectionism, increase the amount of capital available to Canada’s businesses by lifting foreign ownership restrictions in key sectors, negotiating new air agreements and the creation of a national securities regulator have long been forwarded by the Canadian Chamber of Commerce as measures to make us more competitive.
Dealing with climate change remains a real challenge for Canada. We welcome the continued recognition that this must be done in a manner that acknowledges our economic integration with the United States.
The Canadian Chamber is particularly pleased to see the government acknowledge the need to improve the regulatory oversight and project approvals regime for environmental and energy projects. This was outlined in the Canadian Chamber of Commerce’s 2009 policy paper Powering Up Canadian Prosperity as being one of the essential steps government must take to enable Canada to fully leverage its energy sector’s potential.
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