Toronto, November 5, 2020 – Dennis Darby, President & CEO of Canadian Manufacturers & Exporters (CME), issued the following statement in response to the 2020 Ontario budget.
“Today’s budget provides concrete and significant measures to improve business competitiveness and support innovation for Ontario’s manufacturers.”
“Specifically, the lowering of electricity prices, along with property and employment health taxes are particularly welcome as these measures will leave more money in the pockets of manufacturers to invest in their people, processes, and products. These measures are more important than ever, given the added difficulties that came with this year’s COVID-19 crisis.”
“Equally important is the significant investment in reforming procurement processes that will both reduce costs and support local innovation, commercialization, and production. Canadian Manufacturers & Exporters also welcomes the creation of a skilled trades strategy, and funding for micro-credentialing and training, including apprenticeships that will help address the labour shortage and improve company training for manufacturers.”
“As we look ahead to the 2021 spring budget, CME is calling for a broad-based industrial strategy to drive new growth, investment, technology adoption, and scale-up in the province. We are also calling for the modernization of Ontario’s tax and regulatory system by introducing new investment support incentives that support capital expansion and help de-risk technology adoption, new measures to protect employment lands and zones, and the undertaking of additional reforms to Ontario’s property tax system.”
“We look forward to working with the Government of Ontario on implementing the budgetary measures relevant to our sector and introducing new policies that will create even more manufacturing jobs, promote domestic manufacturing, and further reduce business costs in the province.”
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.