The issue
In its pre-budget submission, the Canadian Chamber called on the government to spell out a strategy to secure the recovery, return to a budget balance in the medium term and bolster the economy’s long-term growth potential by addressing long-standing structural impediments that negatively affect the operation of markets and the capacity of businesses to operate efficiently.

What we got for you

• The government will constrain annual program spending growth down to an average of about 1.6% per year through fiscal 2015-16.
• The government will rule out tax increases-including increases to business taxes-to balance its books.
• The government will work to improve the personal income tax system, bring the benefits of foreign investment to Canada, secure access to foreign markets for Canadian businesses, improve Canada’s regulatory and marketplace frameworks through better coordination and cooperation with other countries, focus on protecting intellectual property, reduce the administrative burden on Canadian business, engage with the provinces and territories to enhance internal trade and labour mobility, and support the development of new environmental and clean energy technologies.

How does this benefit me?
The economic measures announced in the federal budget will support Canada’s economic recovery and help Canadian businesses prosper, create jobs and compete.

In particular, the government’s focus on improving the business operating environment will encourage more business investment which will enable further sustainable growth and help build a more competitive economy, making Canada a more attractive destination for foreign investment.