With the federal government’s statutory review of the Cannabis Act fast approaching, it will be critical to address the regulatory burdens that are currently putting this multi-billion dollar economic driver at risk.
(OTTAWA) – September 14, 2020 – Everybody agrees that Canada’s tax system is outdated and uncompetitive, but few agree on where to start. That’s where the Canadian Chamber’s tax review project comes in, and they want to hear from you.
After a series of consultations with a broad mix of Canadian businesses and economic experts on how to harness Canada’s tax system to foster growth, the Canadian Chamber’s tax review process wants to engage Canadians across the country.
As COVID-19 continues to impact the ability of Canadians to come together in person, the Canadian Chamber has launched a new website, ThinkGrowth.ca, to collect their ideas on potential tax reforms that will help businesses and individual Canadians recover from the economic impact of COVID-19.
“Small businesses, the drivers of job creation in Canada, find it hard to stay afloat and are falling further behind US and EU competitors because of an outdated tax structure. Over the next few weeks, we want to hear from Canadians about their ideas to make Canada’s tax system work for them,” said Perrin Beatty, President and CEO, Canadian Chamber of Commerce.
Business leaders, economists and everyday Canadians have also been clear that tax reform is a critical element in repairing the economic damage of COVID-19. What was once a problem too big and too complex to address has become a must-do for Canada’s political leaders. We’ve seen sweeping policy changes delivered in a matter of weeks amid COVID-19, so there’s no longer a reason not to do what is so critically needed,” said Trevin Stratton, Chief Economist of the Canadian Chamber and member of the tax review panel.
Eight respected business and academic leaders, including eminent Canadian economists Jack Mintz (University of Calgary) and Frances Donald (Manulife), are leading the consultation process. For the full list of tax review leaders, click here. The consultations will be captured in a preliminary report, to be released in early October 2020. The report will form the foundational document for the tax review process.
“As political leaders consider their next steps to foster recovery and prosperity post COVID-19, they would be well advised to consider the aggregate voices of everyday Canadians and business leaders captured in the Canadian Chamber’s independent review,” added Stratton.