Still waiting on a strong, clear path to restore economic growth – Canadian Chamber of Commerce

(OTTAWA) – November 03, 2022 – The Canadian Chamber of Commerce’s President and CEO, Perrin Beatty, issued the following statement today in response to today’s Fall Economic Statement:

“Today’s Fall Economic Statement was an opportunity for the government to lay out a blueprint for how to create strong, sustainable economic growth. Unfortunately, it seems we will need to wait at least until Budget 2023 for details on a clear plan.

Although we welcome the commitment to fiscal prudence and the commitment to move towards a balanced budget, today’s statement was essentially a placeholder. We still lack a coordinated strategy to generate the investment required for strong growth.

We had hoped to see low-cost growth measures like a plan to eliminate longstanding barriers to interprovincial trade and to substantially reduce the regulatory burden. We also urge the government to produce an integrated plan to get desperately-needed food, fuel and fertilizer to global markets.

The Canadian Chamber welcomed the Minister’s announcement of measures to increase the supply of skills needed in our workforce to achieve net-zero and to provide  tax credits for investments in clean technologies and clean hydrogen, as well as the commitment to reducing regulatory obstacles to investment in major projects.

Canadian business is anxious to work with the government to produce a comprehensive strategy for growth. Given the headwinds that Canada’s economy currently faces, that strategy is more needed than ever before.”

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 450 chambers of commerce and boards of trade and more than 200,000 businesses of all sizes, from all sectors of the economy and from every part of the country — 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.

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Contact
Emily Walsh
ewalsh@chamber.ca