Speech from the Throne: Economic Growth a Key Priority
Ottawa (December 5. 2019) — Canadian Manufacturers & Exporters is pleased the government recognized in the Speech from the Throne the importance of growing Canada’s economy. Manufacturers are hopeful this will translate into action to improve Canada’s business competitiveness.
“Manufacturing is a key driver of the Canadian economy and we look forward to working with the government on our common objective to stimulate growth,” said Dennis Darby, President & CEO of CME. “The sector directly accounts for more than 10% per cent of GDP, generates more than $686.6 billion in annual output, and accounts for nearly 65% per cent of Canada’s exports. With the right business conditions, much more is achievable.”
“However, Canadian manufacturers are investing in their businesses at a lower rate than their international counterparts. This affects their productivity and their ability to compete. While the priorities announced today such as making economic growth part of the fight against climate change is an important step forward, the government should also focus on making investing in Canada faster, easier, and more attractive. Only then will we unleash our full economic growth potential,” added Darby.
Going forward, CME will advocate the following specific goals to help manufacturers grow the economy:
- The creation of a National Manufacturing Strategy, complete with investment and growth targets, that mirrors the recommendations of Innovation Science and Industry Minister Bains and the Standing Committee on Industry.
- Ratification of the modernized NAFTA trade agreement with the US and Mexico.
- Approval and construction of the Trans-Mountain Pipeline to boost energy exports and provide new domestic markets for Canadian manufactured goods.
- Completion of a full economic analysis of the proposed Clean Fuels Standards prior to full regulatory development.
- Implementation of the new export strategy, including improving, streamlining, and coordinating services for 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.
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