TORONTO (November 21, 2018) — Dennis Darby, President and CEO of Canadian Manufacturers & Exporters (CME) released the following statement on the federal government’s Fall Economic Statement:
“CME is pleased the government acted on our recommendations to boost Canadian competitiveness through enhancing export supports, bolstering the Strategic Innovation Fund and; committing to streamlining regulations. The government also announced that it will be making the full cost of machinery and equipment used in the manufacturing and processing of goods eligible to be written off immediately. These measures are important to the success of the sector, as they will enable Canadian manufacturers to compete better with their counter-parts in the us and around the world. CME is encouraged by the positive breakthrough announced today and will continue working with the government to restore Canada’s business competitiveness through comprehensive taxation reform and addressing labour and skills shortages.”
CME has continued to ramp up its advocacy in favor of restoring business competitiveness in Canada. In 2018, CME issued a study on tax competitiveness calling on the government to enhance the accelerated capital cost allowance to an immediate 100 per cent tax write-off for qualifying assets as a short-term priority.
Read our analysis here.
About Canadian Manufacturers & Exporters:
Since 1871, Canadian Manufacturers & Exporters has been helping manufacturers grow at home and, compete around the world. Our focus is to ensure manufacturers are recognized as engines for growth in the economy, with Canada acknowledged as both a global leader and innovator in advanced manufacturing, and a global leader in exporting. CME is a member-driven association that directly represents more than 2,500 leading companies who account for an estimated 82 per cent of manufacturing output and 90 per cent of Canada’s exports.
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