Related News: "Fiscal and Tax Policy"

Eliminating tariffs would build a stronger, healthier economy and make Canada a global trading hub, report finds

Removing all tariffs on goods entering Canada would boost economic growth, lower prices, attract investment and position Canada as a centre of trade activity, a new report says.

The report, published by the Canadian Council of Chief Executives (CCCE), estimates that eliminating tariffs would generate $20 billion a year in economic activity, equivalent to a one per cent increase in Canada’s GDP. That amount is five times greater than the total revenue collected by the federal government each year in duties.

Titled “Should Canada Unilaterally Adopt Global Free Trade?” the report was written by Dan Ciuriak, former Deputy Chief Economist at the Department of Foreign Affairs and International Trade (DFAIT), and Jingliang Xiao, a Vancouver-based economic researcher.

The study points out that manufactured goods are typically produced with inputs sourced from a variety of countries. Eliminating tariffs on imports would reduce the cost of those inputs and therefore make Canadian companies more competitive. This in turn will allow firms to expand their operations, export more and ultimately hire more Canadians.

More jobs and lower prices on imported goods will make all Canadians better off and will build an even stronger, healthier Canadian economy.

“Unilateral tariff elimination would propel … Read more »

Date April 10, 2014 Related Issues

Business leaders pay tribute to The Honourable Jim Flaherty

Statement by The Honourable John Manley, President and CEO of the Canadian Council of Chief Executives:

“Canada has a lost an extraordinary public servant – a man who was respected across our country and around the world.

“The Honourable Jim Flaherty faced enormous challenges during his eight years as Minister of Finance. His leadership helped Canada to overcome the most serious financial crisis since the 1930s. His astute judgment, thoughtful pragmatism and strength of character inspired confidence during a period of profound uncertainty and economic risk. 

“On behalf of Canada’s business leaders, I want to express our sincere condolences to his family. We are grateful for Jim Flaherty’s many contributions to Canada and deeply saddened by his untimely passing.”

The CCCE is the senior voice of Canada’s business community, representing chief executives and leading entrepreneurs in all sectors and regions of the country. Its member companies collectively employ 1.5 million Canadians and are responsible for most of Canada’s private sector investments, exports, workplace training and research and development.… Read more »

Date April 7, 2014 Related Issues

Large companies pay more than 50 different kinds of taxes, study says

Major Canadian companies are subject to more than 50 different kinds of taxes and, on average, pay 33.4 per cent of their profits to various levels of government, a new report shows.

The report found that for every $1 they pay in federal and provincial corporate income tax, large companies typically incur an additional 94 cents in other business taxes – including payroll taxes, property taxes and unrecoverable sales taxes on business inputs.

PwC Canada prepared the report based on a study of 63 leading Canadian companies. The participants included banks, insurance firms, retailers, telecommunications providers, energy companies and mining companies. Of the 63 companies, 39 are listed on the Toronto Stock Exchange and 24 are Canadian-owned private businesses, partnerships or income trusts.

Altogether, the 63 companies that participated in the study contributed $40.6 billion to Canadian public finances in 2012. 

In addition, they provided employment to 759,276 people, who earned an average income of $64,781.

The study was commissioned by the Canadian Council of Chief Executives (CCCE), which represents 150 leading companies in all sectors and regions of the country.

“As taxpayers and as employers, large companies contribute disproportionately to the Canadian economy,” said The Honourable John Manley, President … Read more »

Canada-India relationship showing progress but more must be done, CCCE says

The Canada-India economic relationship continues to gain strength but more needs to be done to overcome trade and investment barriers between the two countries, Canadian business leaders say.

To address these challenges and ensure that the partnership lives up to its potential, the Canadian Council of Chief Executives (CCCE) urges both governments to redouble their efforts to conclude a broad and ambitious bilateral free trade agreement.

In 2010, Canada and India launched negotiations toward a Comprehensive Economic Partnership Agreement (CEPA).  The goal of the talks is to boost two-way trade and investment, create jobs and contribute to economic growth in both countries. 

Between 2012 and 2013, merchandise trade between India and Canada grew by 12 per cent to $5.8 billion. India is now Canada’s 11th largest export market and 18th largest source of imports. However, the two countries are still a long way from achieving the target set in 2009 by Prime Minister Stephen Harper and his Indian counterpart, Dr. Manmohan Singh —  expanding annual bilateral merchandise trade to $15 billion by 2015.

The modest rate of progress can be attributed to the existence of a wide range of commercial barriers, including:

  • India’s complex regulatory framework for imports of agricultural
  • Read more »

Parliament of Canada Federal budget charts a clear course to balance, CCCE says

The 2014 federal budget presents a plan for returning Canada to a select group of nations with balanced budgets by 2015.

“Balancing the federal budget and maintaining discipline to pay down the debt are not only the right things to do, they are essential for Canada’s global competitiveness,” said The Honourable John Manley, President and Chief Executive Officer of the Canadian Council of Chief Executives (CCCE).

He added that the CCCE is also looking to provincial governments for their balanced budget plans. “At a time when the economy is growing, it is essential for all levels of government to prepare for any future downturns,” Mr. Manley said.

The CCCE is the senior voice of Canada’s business community, representing 150 chief executives and leading entrepreneurs in all sectors and regions of the country.

Mr. Manley also highlighted the opportunity for the federal government to identify long-term strategic priorities that deserve discussion in the run-up to next year’s election. These priorities were outlined in a pre-budget letter to the Minister of Finance.

“A top priority – one that will require Ottawa to work closely with the provinces and territories – is a national labour market strategy that will help equip young people … Read more »

Business leaders applaud commitment to seal Canada-EU trade agreement

Canada’s business leaders welcome today’s announcement by Prime Minister Stephen Harper that his government will soon wrap up talks on a wide-ranging trade agreement with the European Union, the world’s largest economy.
 
Speaking to his Conservative Party caucus this morning, the Prime Minister signaled that Canada’s international trade priorities will feature prominently in this afternoon’s Speech from the Throne, which will outline the government’s agenda for the next two years.
 
“A strong and ambitious trade agenda continues to be at the core of this government’s strategy for jobs and economic growth,” said The Honourable John Manley, President and CEO of the Canadian Council of Chief Executives. “After four years of negotiations, we are heartened by the Prime Minister’s assurance that negotiations are close to complete on the Canada-EU Comprehensive and Economic Trade Agreement (CETA). On both sides of the Atlantic, the CETA will create jobs, spur investment and promote economic growth.”
 
As with every bilateral trade agreement, neither side will get everything it wants, Mr. Manley predicted. But he reiterated what he told business leaders in a speech in Dublin last month: “Narrow issues – whose economic value is arguably marginal in the context of this trade agreement – should … Read more »

John Manley addresses Business Gathering in Dublin Europe’s reputation at stake in Canada-EU negotiations, Manley says

At a time of weak economic growth across the European Union (EU), signing a comprehensive free trade agreement with Canada should be a top priority for EU leaders, says The Honourable John Manley, President and Chief Executive Officer of the Canadian Council of Chief Executives (CCCE).
 
Speaking to business leaders in Dublin this morning, Mr. Manley delivered a forceful pitch for the proposed Canada-EU Comprehensive Economic and Trade Agreement (CETA), insisting that “time is running out” on the negotiations and that failure to reach an agreement soon would damage the EU’s credibility in international trade talks.
 
“My organization has taken a leading role in advocating for CETA in Canada,” Mr. Manley told members of the Ireland Canada Chambers of Commerce and the Ireland Canada Business Association.
 
“We have urged both sides to make the necessary compromises to conclude an agreement. But it takes two to tango, and right now what we are hearing from the EU side is that the negotiators are not feeling much pressure from European governments to reach a deal.”
 
“If that’s the case, they are making a huge mistake. The EU needs this deal. It’s one thing to start negotiations, but it’s another thing to finish … Read more »

parliament budget 2013 for website Federal budget will improve skills training, but developing modern and efficient labour markets requires ongoing commitment, business leaders say

OTTAWA – The 2013-2014 federal budget includes a number of measures to address Canada’s labour market requirements, but much more needs to be done at all levels of society to ensure that skill shortages do not choke economic growth, according to the Canadian Council of Chief Executives (CCCE).
 
“Finance Minister Jim Flaherty has put his finger squarely on the problem: far too many well-paid jobs are going unfilled because employers can’t find people with the right skills,” said The Honourable John Manley, the CCCE’s President and Chief Executive Officer. 

The CCCE is the senior voice of Canada’s business community, representing 150 chief executives and leading entrepreneurs in all sectors and regions of the country.
 
“Companies across the country, in sectors ranging from energy and natural resources to construction, manufacturing and services, are finding it increasingly difficult to recruit employees with the right qualifications,” Mr. Manley said. “It’s a problem today, and if left unchecked it will only get worse, undermining opportunities for Canadian workers and contributing to slower economic growth.”
 
In today’s budget, Mr. Flaherty pledged: new funding for businesses to train unemployed and under-employed workers; expanded support for apprentices; more internships for recent post-secondary graduates; and increased assistance for … Read more »

Date February 4, 2013 Related Issues

Ailish Campbell to join CCCE Secretariat as Vice President, Policy, International and Fiscal Issues

The Honourable John Manley, President and CEO of the Canadian Council of Chief Executives (CCCE), today announced that Ailish Campbell will join the CCCE Secretariat as Vice President, Policy, International and Fiscal Issues, effective February 19, 2013.

“Ailish has a solid background as a policy leader on economic, international and trade issues,” Mr. Manley said. “She comes to us most recently from Industry Canada, where she has been Director General of the Manufacturing and Life Sciences Branch.  Previously at Industry Canada she worked on the implementation of the Competition Policy Review Panel chaired by L.R. (Red) Wilson, which produced legislative amendments to the Investment Canada Act and the Competition Act.

“In addition to Industry Canada, Ailish has held executive positions in the Privy Council Office, and the Department of Foreign Affairs and International Trade.  In these positions, she has worked on intellectual property issues including changes to the Copyright Act, foreign investment, and trade issues including softwood lumber.   She has also been a member of Canada’s negotiating team in the Doha Round of trade negotiations at the World Trade Organization.  Throughout these activities her advice has centred on how to make Canada and Canadian firms more globally … Read more »

Fiscally responsible 2012 budget includes targeted measures to improve Canadian competitiveness, CEOs say

OTTAWA, March 29, 2012 - The 2012 federal budget moves Canada closer to fiscal balance while taking steps to promote job creation and business investment, according to the Canadian Council of Chief Executives (CCCE).

“By restraining the growth in public spending, reducing regulatory overlap, improving Canada’s immigration system and enhancing support for business-driven research, the government is helping to build a stronger and more competitive Canadian economy,” said The Honourable John Manley, the CCCE’s President and Chief Executive Officer.

The CCCE is the senior voice of Canadian business, representing 150 chief executives and entrepreneurs from all major sectors and regions of the country.

“Budget 2012 builds on our country’s reputation for fiscal responsibility, while at the same time establishing a more positive environment for private sector investment and growth,” Mr. Manley said.
   
The CCCE welcomes the budget’s commitments to:

  • Build a faster and more flexible immigration system aimed at meeting Canada’s labour market needs;
  • Reform the review process for major economic projects to establish clear timelines and reduce regulatory duplication;
  • Intensify Canada’s pursuit of new and closer trade relationships, particularly in emerging markets;
  • Introduce targeted improvements to the foreign ownership review process that will strengthen investor confidence and enhance transparency;
  • Read more »

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