Economic Strategy

CME: Federal government measures for business good first step; more action needed

OTTAWA (March 18, 2020) – Canadian Manufacturers & Exporters (CME) welcomes the announcement today by the federal government as a good first step to mitigate the impacts of the COVID-19 outbreak on businesses across the country.

“No Canadian manufacturer should fail because of this crisis,” said Dennis Darby, President & CEO of CME. “The national goal of flattening the curve of the impact of this crisis is essential to the health of Canadians and our economy.” CME is pleased the government has adopted some of our recommendations such as:

  • Delays in tax and filling payment
  • Delays in tax audits
  • Payroll tax subsidies for SMEs

However, more support is needed to keep businesses running and Canadians employed. These measures include extending payroll tax reduction to all companies and temporarily halting all employer contributions to payroll tax. CME is also asking for direct financial support for companies in financial distress.

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.

FOR MORE INFORMATION, PLEASE CONTACT

Stefi Proulx
Director of Communications
Canadian Manufacturers & Exporters
C:  613-292-6070 | stefi.proulx@cme-mec.ca | @CME_MEC