Leveraging the recovery: Board of Trade of Metropolitan Montreal submits
pre-budget recommendations to Canada’s Minister of Finance
Montréal, February 7, 2011 – As part of the pre-budget consultations held by the Honourable James M. Flaherty, the Board of Trade of Metropolitan Montreal is asking Canada’s Minister of Finance to capitalize on the recovery to begin balancing the budget as well as implement concrete measures to boost business productivity.
“The federal government must honour the commitment it made last year to balance the budget and it must do so without raising taxes. Canada weathered the recession well and the recovery here seems stronger than in most of the other G7 nations. The government must capitalize on this situation to balance its budget while at the same time implementing measures to help our economy remain competitive,” stated Board of Trade President and CEO Michel Leblanc.
“We are asking the government to stick to its target of rolling back the corporate tax to 15% in 2012. Cutting corporate taxes will make businesses more competitive and stimulate job creation across the country,” added Michel Leblanc.
“The government must also beef up measures to boost the productivity of our businesses and help them break into the international marketplace. It must encourage research and innovation in such strategic sectors as aerospace, life sciences and information and communication technologies. We also need more initiatives to help SMEs penetrate new markets,” added Michel Leblanc.
“Lastly we want the government to maintain certain strategic infrastructure investments, more specifically, the construction of a rail shuttle between Montréal-Trudeau Airport and downtown. Everything is in place: the studies have been completed, the route has been finalized and the Quebec government has pledged to finance its share. The federal government must provide the remaining $200 million needed to bring this project to fruition,” concluded Michel Leblanc.
The Board of Trade’s recommendations revolve around four major orientations:
- Stay the course to return to a balanced budget according to plan without raising taxes;
- Beef up measures to enhance business productivity;
- Keep up efforts to support and help businesses on the international markets;
- Fund certain strategic public infrastructure projects.
Click here to read the Board of Trade’s pre-budget recommendations.
The Board of Trade of Metropolitan Montreal is made up of some 7,000 members. Its mission is to represent the interests of the business community of Greater Montréal and to provide individuals, merchants, and local businesses of all sizes with a variety of specialized services to help them achieve their full potential in terms of innovation, productivity and competitiveness. The Board of Trade is Quebec's leading private economic development organization.
Coordinator, Media Relations
Board of Trade of Metropolitan Montreal
Tel.: 514 871-4000, extension 4015