CME SUPPORTS CANADIAN GOVERNMENT INVESTMENTS IN SKILLS & STUDENTS BUT MORE NEEDED TO ADDRESS BUSINESS COMPETITIVENESS CHALLENGES
(OTTAWA, MARCH 19, 2018) – Dennis Darby, President and CEO of Canadian Manufacturers & Exporters (CME) released the following statement on the federal government’s 2019 Budget:
“Manufacturers were encouraged to see the Canadian Government commit to increasing funding for skills training through the Canada Training Benefit, work integrated learning, and apprenticeships. One quarter of a billion dollars and creating 40,000 new work integrated learning spots is certainly welcome and will help address chronic labour challenges. However, manufacturers continue to be concerned about the overall competitiveness of the industry as no significant changes to business taxes or other measures to help business investment were announced.
Although we see positive measures in the budget regarding the main challenge manufacturers are facing with skills training, there is still a lot to do to ensure that we have the right business environment to help manufacturers invest and grow here in Canada and compete globally.
We are encouraged to see that the government is committing to uphold the important measures of the Fall Economic Statement with regards to the Accelerated Capital Cost Allowance and export supports. We are also pleased to see that the government will invest in more reliable internet service to rural areas, eliminating the income threshold for accessing the enhanced credit under SR&ED, and continued support for regulatory reform. But these measures will not be sufficient to stimulate the level of investment that is required in the industry and the Canadian economy more generally.
CME looks forward to working with the government and all parties in the House of Commons to support the growth of the manufacturing industry.”
About Canadian Manufacturers & Exporters:
Since 1871, Canadian Manufacturers & Exporters has been helping manufacturers grow at home and thrive around the world. In 2016, CME released Industrie 2030 – a roadmap for doubling Canadian manufacturing activity by 2030. Our focus is to ensure the sector is dynamic, profitable, productive, innovative and growing. We aim to do this by strengthening the labour force, accelerating the adoption of advanced technology, supporting product commercialization, expanding marketplaces and, most importantly, ensuring a globally-competitive business environment. CME is a member-driven association that directly represents more than 2,500 leading companies.
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