"Our country desperately needs a forward-looking economic strategy”: The call to action that emerged from Canadian Chamber’s Canada 360 Economic Summit

(OTTAWA) – March 5, 2020 – The Canadian Chamber of Commerce’s recent economic summit covered a lot of topics, but one common unifying thread emerged: Canada needs a clear, sober-minded and forward-looking economic strategy that provides for sustainable growth for all Canadians.

“Canadian business leaders were candid about the issues they are facing on the ground, and they were clear that Canada urgently needs a comprehensive national economic strategy. Our governments must find the vision, the principle and the strength of purpose to achieve our economic potential, and Canada’s business leaders have given them lots to think about in the Canada 360 report.” said Trevin Stratton, Chief Economist and Vice-President of Policy, Canadian Chamber of Commerce.

The Canada 360 Economic Summit, held in Toronto on January 30, asked business leaders how the economy is changing underneath our feet and how we can best position Canada. These discussions focused on three main panel topics: Canada’s declining levels of competitiveness, Canada’s place in the world amidst a changing global economy, and Canada’s role as a nation of innovators in an increasingly disruptive economy.

Based on the panellist’s exchanges, the business community identified eight priorities to attract investment to Canada, help create jobs and grow and strengthen our communities:

·        A regulatory system that works for everyone, including business

·        Infrastructure and innovation to make Canada the most connected country in the world

·        A workforce with the skills, education and training to prosper

·        Access to new markets around the world and the elimination of trade barriers at home

·        A tax system that is fair, efficient and modern

·        Resources to help small and medium companies grow and succeed

·        Addressing climate change by lowering emissions and increasing energy supply

·        A healthier pharmacare system for healthier Canadians

“Governments cannot address the issues we are facing alone and, in many cases, significant business investment will be required. Without a strong economy, our country will not be able to adapt to climate change and an aging population. Without a focus on growth, we will not be able to foster the innovation and sustain the vital public services needed to address the challenges of a sustainable economy. Ideally, such a strategy would be convened by our political leaders, but if they are incapable of doing so, then business will need to lead the way. Canada’s business leaders cannot wait for a dithering parliament as the global economy moves on without us,” concluded Stratton.

To download the report, click here.

About the Canadian Chamber of Commerce – Because Business Matters

The Canadian Chamber of Commerce helps build the businesses that support our families, our communities and our country. We do this by influencing government policy, by providing essential business services and by connecting businesses to information they can use, to opportunities for growth and to a network of local chambers, businesses, decision-makers and peers from across the country, in every sector of the economy and at all levels of government, as well as internationally. We are unapologetic in our support for business and the vital role it plays in building and sustaining our great nation.

For more information, please contact:

Phil Taylor
ptaylor@chamber.ca (preferred and fastest response time)
613.797-1860