Our Reaction to the Spring Economic Update

April 28, 2026

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“In five months, we’ve gone from ‘invest more, spend less’ to ‘earn more, and spend it.

Nobody could have predicted that Canada would benefit fiscally from global conflict, trade chaos and the commodity cycle. Yet we would have preferred the government to choose to spend less of this windfall. As it heads into the next phase of a trade war and an uncertain global environment, the government is not leaving itself much fiscal room to manoeuvre. 

At the same time, we recognize the need for measures to find solid ground in the face of global pressures.  

For businesses on Main Street, we welcome the reduction of payroll taxes for businesses through the agreement to lower CPP contribution rates. When SMEs face rising cost pressures, this helps them keep Canadians employed.  

If Canada is ready to embrace big nation-building projects, we’re also going to need a big, skilled workforce. We’re supportive of the government’s vision to focus on trades, talent and young people, in particular, supporting SMEs as a major employer of private sector workers.  

However, this government will need to revisit its restrictive approach to immigration if we’re going to be serious about our talent needs and the country’s growth ambition.  

This Spring Economic Statement has added weight because the government is now in a position with its majority status to enact key parts of its agenda. The private sector remains the natural partner to deliver at the speed and scale that is needed. 

As Canada’s largest business network, we know there is sidelined capital ready to support the government in its vision. To do this, though, we must remain focused on addressing internal trade barriers, tax competitiveness, and reducing red tape to allow private sector leaders to be part of the solution.”

• Matthew Holmes, Executive Vice President and Chief of Public Policy, Canadian Chamber of Commerce
  
  

About the Canadian Chamber of Commerce — The Future of Business Success  

The Canadian Chamber of Commerce is Canada’s largest and most activated business network — representing over 400 chambers of commerce and boards of trade and more than 200,000 business of all sizes, from all sectors of the economy and from every part of the country — working to create the conditions for our collective success. The Canadian Chamber of Commerce is the undisputed champion and catalyst for the future of business success. From working with government on economy-friendly policy to providing services that inform commerce and enable trade, we give each of our members more of what they need to succeed: insight into markets, competitors and trends, influence over the decisions and policies that drive business success, and impact on business and economic performance.    

Media Contact 

Shane Mackenzie 
Vice President, Media and Stakeholder Communications 
613.302.7683 
smackenzie@chamber.ca