Economic Strategy

CANADIAN INDUSTRIAL STRATEGY MUST BE PART OF SPEECH FROM THE THRONE

OTTAWA, November 22, 2021 – Ahead of tomorrow’s speech from the throne, Canadian Manufacturers & Exporters (CME) is calling on the federal government to adopt a national industrial strategy and commit to taking concrete actions to grow manufacturing and Canadian exports.

“Canadian manufacturers proved during the COVID-19 pandemic the critical importance of having a vibrant domestic manufacturing industry. Manufacturing is a key driver of economic growth, represents two-thirds of our value-added exports, and directly employs millions of Canadians in high-paying jobs in every region of the country. A national industrial strategy that promotes new investments, workers and innovation, would support that and secure the future of manufacturing and Canadian prosperity,” said Dennis Darby, CME President and CEO.

This strategy should focus on four priorities:

  1. Attract the workers we need in Canada to support our industries;
  2. Stimulate investment in innovation and advanced technologies;
  3. Increase Canadian exports; and
  4. Adopt an industrial net-zero strategy.

Supply chains disruptions far from over

As mentioned by the prime minister, supply chains around the world are crunched because of COVID-19 and people and businesses are wondering how they’re going to acquire things they need. The recent flooding situation in British Columbia adds to the list of recent disruptions affecting the Canadian supply chain and demonstrates, once again, how fragile it is.

“The flooding and tragic loss of lives in British Columbia underscores the need for high-quality infrastructure. Given all the disruptions over the last few months, we ask the federal government to also invest in expanding our domestic manufacturing capacity,” said Darby.

CME presented a manufacturing plan for the government – “Manufacturing Now” during the recent federal election. In it, CME challenged the federal government to attract at least two per cent of the annual manufacturing investment made in the OECD, or $50 billion a year, over the next decade. To get there, CME calls on the government to commit to the challenge and work with manufacturers to implement an effective and comprehensive industrial strategy.

“Manufacturing is an essential industry. We need the government to make growing Canadian manufacturing and Canadian exports a priority in the upcoming Throne Speech,” said Darby. “The time is now to cement the manufacturing sector as a central pillar of our economy for years to come.”

Quick Facts

  • The manufacturing sector represents more than 10% of Canada’s gross domestic product.
  • Manufacturers directly support more than 1.7 million jobs in Canada.
  • The total manufacturing sales in 2019 surpassed $685 B.

For more information

Ady Stefan Calin
Manager, Communications & Branding
Canadian Manufacturers & Exporters
(514) 293-3765
ady.calin@cme-mec.ca