A growth plan to restore Canada's competitiveness

OTTAWA, March 29, 2012 /CNW/ - Today's budget presents a plan for economic growth that builds on Canada's economic and fiscal advantages. The measures announced will help Canadian businesses prosper and compete.

The five themes laid by the government—support for innovation and research; overhauling regulation for resource development; investing in training and opportunity; support for families and communities; and ensuring the long-term sustainability of major social programs—include a number of measures from the Canadian Chamber of Commerce's 10-point national plan to regain Canada's competitive edge in the global economy.

"We have urged the government to focus on where Canada needs to be five or 10 years from now, even if it means taking tough decisions now. The government has acted on some of the key elements of the Canadian Chamber of Commerce's Top 10 program for restoring Canada's competitiveness. The result will be a stronger economy and more jobs," said Canadian Chamber of Commerce President and CEO Perrin Beatty.

"We're also pleased that the government has answered the Canadian Chamber of Commerce's call for a balanced budget in the medium term," Beatty added. "In a world awash in debt, we are securing crucial fiscal flexibility to survive future downturns."

While the global economic environment has improved and financial stresses in Europe have lessened, Canada's economy remains vulnerable due to high household debt levels and lacklustre job growth. There is no room for complacency. The Canadian Chamber recognizes that building a more productive, more competitive economy is a shared undertaking. It will take the combined efforts of business, all levels of government and individual Canadians.

"The government has laid out measures to address some of Canada's structural problems. We will continue to press for  a bold vision that will make Canada more competitive," Beatty said.

The Canadian Chamber of Commerce is the vital connection between business and the federal government. It helps shape public policy and decision-making to the benefit of businesses, communities and families across Canada with a network of over 420 chambers of commerce and boards of trade, representing 192,000 businesses of all sizes in all sectors of the economy and in all regions. News and information are available at Chamber.ca or follow us on Twitter @CdnChamberofCom.

Émilie S. Potvin
Director, Public Affairs & Media Relations
Office: 613.238.4000 (231)
Cell.: 613.797.1860
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