Ottawa, October 24, 2017 — Today’s Economic Update revealed that the Canadian economy is performing better than expected, something to be celebrated by the hundreds of thousands of businesses contributing to these latest gains.
“Greater economic growth and a lower deficit are good news for all Canadians. It is especially encouraging for the businesses that are carrying our economy forward, often with great risk and little reward,” said the Hon. Perrin Beatty, President and CEO of the Canadian Chamber of Commerce.
Business-friendly measures such as improving access to capital and skilled labour, greater regulatory clarity and a more balanced tax rate would further boost Canada’s economic well-being.
“Despite some of today’s positive findings, uncertainty looms. As storm clouds continue to accumulate over our trade relations with the U.S., it is critical that Canada get its house in order. Chief amongst that is the need to return to a balanced budget. Canada must also invest in the tools our businesses need to reach new markets and continue contributing to our global exports” Mr. Beatty said.
“With the right measures, such as an overall tax review, we can provide a more competitive environment to our businesses. And when businesses succeed, they contribute more tax revenue to measures like the Canada child benefit, or to reducing our deficit, and that helps all Canadians,” concluded Mr. Beatty.
The Canadian Chamber of Commerce is the vital connection between business and the federal government. It helps shape public policy and decision-making to the benefit of businesses, communities and families across Canada with a network of over 450 chambers of commerce and boards of trade, representing 200,000 businesses of all sizes in all sectors of the economy and in all regions. News and information are available at Chamber.ca or follow us on Twitter @CdnChamberofCom.
Director, Public Affairs and Media Relations
Canadian Chamber of Commerce