FOR IMMEDIATE RELEASE - March 18, 2019
OTTAWA, ONTARIO – Dennis Darby, President and CEO of the Canadian Manufacturers and Exporters (CME), will be available to media for comment in advance and following the unveiling of the federal Budget 2019 on March 19, 2019.
Areas of interest and expertise include but are not limited to innovation funding, tax competitiveness, the availability labour and skills development.
OUR PRE-BUDGET RECOMMENDATIONS:
Recommendation 1: That the government take immediate steps to restore Canada’s business tax advantage over the United States.
Recommendation 2: That the government develop a new approach to regulatory modernization that includes a Regulatory Bill of Rights for a world-class system of regulations that are predictable and focused on achieving desired policy outcomes rather than prescribing business processes.
Recommendation 3: That the government increase direct investments in high-potential firms by creating a risk-sharing funding program aimed at improving productivity and accelerating the commercialization of innovative products.
Recommendation 4: That the government expand the size of its Strategic Innovation Fund to $2 billion per year, make the program permanent, and earmark half of those funds for innovations tied to manufacturing. The SIF should also be expanded to include tax credits for process improvements and software purchases, and support should be available to manufacturers on a non-discriminatory basis.
Recommendation 5: That the government reinvest all federal and provincial carbon-pricing revenues back into offsetting the cost of purchasing new technologies and machinery & equipment.
Recommendation 6: That the government work with trade and industry exporters to create a National Manufacturing Export Accelerator Program to assist SMEs become export-ready and fully realize their growth potential.
Recommendation 7: That, provided it does not violate WTO commitments, the government reduce corporate tax payable on business profits generated from exports. To encourage trade diversification, the reduction should be greater for exports to non-US destinations.
Recommendation 8: That the government work in partnership with businesses to address labour and skills shortages in manufacturing
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.