The Chamber network has prepared a pre-budget submission in advance of the federal budget next month.
We have urged the government to focus its budget on the imperative for growth driven by the private sector: we cannot borrow our way to prosperity. The government’s role must be to ensure an environment that encourages private sector investment, and to foster the conditions for economic growth. Many of the measures included in the submission, including regulatory reform and dismantling internal barriers, will cost little or nothing now but will create significant economic opportunities into the future.
Our Chamber has endorsed several key proposals important to our local and provincial economy:
Building Trade-enhancing Infrastructure
As geopolitical tensions continue to disrupt global supply chains, we have both an opportunity and an obligation to export our abundant natural resources. However, our inadequate trade-enabling infrastructure impedes our ability to get goods like food, fuel, fertilizer, and critical minerals to our domestic manufacturers, ports of export, and international partners.
Easing the Burden of Doing Business
Developing a closer partnership with business need not cost the government anything, but it will help draw much-needed investment. Similarly, we must modernize the tax system to make it simpler, more efficient, and fairer. Our submission includes a series of low- and no-cost measures that can promote economic growth.
Attracting and Retaining Talent
With job vacancies in virtually every sector, we need a coherent plan to attract and retain a 21st workforce, including targeted incentives and training to drive higher Indigenous participation. Any plan must link our broader immigration targets to the skilled talent employers need right now, as well as to how we attract, retain, and provide international students with pathways to work and permanent residency.
Enabling an Innovative Economy
To maintain a competitive edge that stimulates growth in emerging sectors, the government should capitalize on our innovative advantages in AI, cybersecurity, digital health, clean tech, and clean fuels by modernizing research and development processes, and by stimulating product development and commercialization.
We thank the Canadian Chamber for preparing the submission and look forward to seeing these priorities tackled on Federal Budget Day.