Strategic Growth Plan Required To Keep Ontario Competitive
#LSN_Econ
Ontario Chamber Network urges Ontario’s next government to take bold action to address challenges for business
THUNDER BAY, Ontario May 18, 2018: (LSN) With election day just weeks away, the Thunder Bay Chamber of Commerce and the Ontario Chamber of Commerce (OCC) is calling on all political parties to commit to reducing input costs and the regulatory burden felt by businesses across the province.
In the Ontario Chamber Network’s Vote Prosperity platform, strengthening business competitiveness is not only fundamental for employers but also the success of the entire province. With industry struggling to compete under increased costs and regulations, the OCC and Thunder Bay Chamber would like Ontario’s next government to establish a publicly available analysis of the cost of doing business, as well as adopt a robust approach to reducing red tape.
“Our members have made it clear: the rising cost of doing business is hindering their growth and Ontario’s prosperity,” said Charla Robinson, President of the Thunder Bay Chamber of Commerce. “Ontario has a competitiveness problem and bold action is required by our next government to address these challenges. That is why the OCC and are calling on all political parties to adopt our plan to reduce the regulatory and cost burden on Ontario businesses.”
Ontario is currently the most regulated province in the country, altogether harming economic prosperity and our ability to compete in the global marketplace. Strengthening Business Competitiveness is the first pillar for a strong Ontario in the Ontario Chamber Network’s Vote Prosperity platform, which calls on the next government to:
• Allow Ontario businesses to purchase surplus electricity at rates equal to or better than the exported price to other jurisdictions.
• Conduct and publish the results of a comprehensive review of the electricity sector, including an objective economic impact analysis assessing the full range of inputs that make up the Global Adjustment, and then pursue cost-reducing measures based on the results.
• Pursue efforts to reduce Ontario’s greenhouse gas emissions in a manner that effectively mitigates risk to business competitiveness.
• Work with federal and local levels of government to establish a publicly available analysis of the cost of doing business in Ontario.
• Reinstate scheduled reductions in the Corporate Income Tax, standardize the Business Education Tax and reduce the Employer Health Tax.
Robinson continued, “There is a direct relationship between the ability of Ontario’s entrepreneurs to invest in themselves, in their people, and in their communities and our collective ability to prosper. In this election, for Ontario to win, we must ensure that the connection between a strong private sector and a prosperous society is not lost.”
In October the Ontario Chamber Network, along with its 135 chambers of commerce and boards of trade across the province, released Vote Prosperity, a platform outlining the business community’s priorities for the upcoming 2018 provincial election. For more information about the Vote Prosperity platform, visit tbchamber.ca/voteON
-30-