Budget 2019 should ensure Canadian agricultural manufacturing sector's competitiveness in global markets
EDMONTON, Oct. 17, 2018 /CNW/ - Agricultural Manufacturers of Canada board chair Richelle Andreas, CEO of S3 Enterprises, called on the federal government to increase the capital cost allowance rate and continue pursuing free trade agreements while supporting exporters in developing markets. Andreas made the statement today at the House of Commons Finance Committee meeting in Edmonton as part of the committee's consultations on Budget 2019.
"The agricultural equipment manufacturing sector is an important one for Canada's economic success. In order for our sector to thrive and ensure Canada's competitiveness, Budget 2019 should include measures that allow the sector to innovate and get goods to global markets," said Andreas.
Shortline manufacturers help keep rural economies strong, employing approximately 12,000 people primarily in communities less than 10,000. Canadian agriculture equipment manufacturers export $1.9 billion worth of farm equipment to over 150 countries and meet the demands of Canadian farmers who grow crops and raise livestock in harsh conditions hence making Canadian-made farm equipment some of the best in the world.
Andreas reiterated the following recommendations found in AMC's 2019 pre-budget submission:
- That the government increase the Capital Cost Allowance rates for purchases of new farm machinery and equipment by combining the two classes they currently fall into and providing a higher rate of amortization.
- That the government continue and intensify its pursuit of fair free-trade agreements and the diversification of Canada's export markets.
- That the government encourage Export Development Canada to continue and strengthen its support for Canadian exporters active in developing markets such as South America.
"Innovation starts at home. Modern farm practice is advancing at an unparalleled rate and our members are creating the solutions to execute the science of tomorrow's farm. As a leader in the global advancement of agronomy, with good public policy, Canada stands poised to increase our exports and become the worldwide model for sustainable agricultural practice," said Andreas.
The full PBS can be found here.
ABOUT AGRICULTURAL MANUFACTURERS OF CANADA
The Agricultural Manufacturers of Canada (AMC) is a national, member-driven organization dedicated to sustaining a strong, viable and highly respected Canadian agricultural manufacturing industry. With over 250 members, our mission is to foster and promote the growth and development of the agricultural equipment manufacturing industry in Canada.
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SOURCE Agricultural Manufacturers of Canada
Ty Hamil, Manager of Government and Membership Relations, AMC, 306-522-2710, [email protected]
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