Chamber pens federal budget submission to create ‘business predictability’

Article content

The Chamber of Commerce network has released its 2023 federal budget submission, designed to create business predictability and competitiveness.
Deputy Prime Minister and Minister of Finance Chrystia Freeland is set to release the budget Tuesday.

Article content

The Ontario Chamber of Commerce’s budget submission notes that Canada needs competitive investments in innovation, productivity, and sustainable economic growth.

The Sault Ste. Marie Chamber of Commerce is part of the Ontario Chamber network.

“Businesses across Sault Ste. Marie and Algoma continue to face challenges as a result of labour shortages, health system vulnerabilities, inflation, and the phaseout of temporary government support programs,” said Sault Chamber CEO Rory Ring. “Canada’s 2023 budget must focus on creating a competitive business environment by eliminating barriers to growth, building growth-enabling infrastructure, modernizing fiscal policy, and unlocking the potential of key sectors such as clean technology.”

Article content

Article content

The federal budget submission includes a number of recommendations under four pillars — to drive economic growth, build resilient communities, modernize regulation and fiscal policy and unlock the green economy.

To diversify economic growth, Canada needs to fast track talent into Canada, reform employee insurance to reflect the needs of today’s workforce and eliminate barriers to growth such as unfair taxes and expanding access to procurement opportunities to small and diverse businesses.

Communities need supports for better and more mental health and addictions services to combat the growing crisis. Communities also need better digital and broadband infrastructure to compete in the modern business world and more transit investments. Affordable housing and taking meaningful action on economic reconciliation have also been identified as solutions in the budget submission document.

Article content

The chamber’s argue that the federal government needs to remove barriers to inter-provincial trade and labour mobility, reform the tax system, develop a plan for fiscal balance and introduce common-sense regulations including cannabis, hospitality and tourism.

More investments need to be made in clean technologies and Canada’s energy should be promoted on the world stage and leverage Ontario’s clean energy assets to achieve Canada’s net-zero ambitions by 2050, recognize nuclear power as green infrastructure, develop critical minerals supply chains and support clean transportation options, a press release states.

“We would like to see the federal government present a clear strategy for economic growth in their 2023 budget. Following the turbulence of the last few years, now is the time to see measures that provide businesses with predictability and spur productivity,” said Rocco Rossi, CEO of the Ontario Chamber of Commerce.

The recommendations outlined in the federal budget submission were developed with businesses, associations, post-secondary institutions, and chambers of commerce and boards of trade from across the province.