PwC Federal Budget instant reaction: investment and trade initiatives mean
reduced costs for manufacturers

TORONTO, March 4 /CNW/ - PwC tax specialists commented today:

Today, certain measures were announced to help Canadian manufacturers reduce costs associated with the import of machinery, equipment and goods. There will be no more fast write-offs for general manufacturing equipment, which had been hoped for by the industry.

The notable action included:

    
      -  Making Canada a tariff free zone for industrial manufacturers by
         eliminating all remaining tariffs on machinery and equipment and
         goods imported for further manufacturing - a savings of $300 million
         in annual duty for Canadian business, to support investment and
         growth and create jobs.
    

A PwC Budget Flash with additional Budget highlights has been issued today followed by a detailed Budget Memo later this evening. For more information and detailed commentary on the Budget please contact, Kiran Chauhan, [email protected], 416-947-8983 or visit www.pwc.com/ca/budget.

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PricewaterhouseCoopers (www.pwc.com) provides industry-focused assurance, tax and advisory services to build public trust and enhance value for its clients and their stakeholders. More than 163,000 people in 151 countries across our network share their thinking, experience and solutions to develop fresh perspectives and practical advice. In Canada, PricewaterhouseCoopers LLP (www.pwc.com/ca) and its related entities have more than 5,300 partners and staff in offices across the country.

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For further information: Kiran Chauhan, [phone], [email protected]