REGINA, SK - With the new Parliament back under way this week, the Saskatchewan Chamber of Commerce has joined a number of other business councils in a joint letter to all Members of Parliament.
The letter was sent last week by the Western Business Coalition, consisting of the Sask. Chamber as well as the Business Council of British Columbia, Business Council of Alberta, and Business Council of Manitoba. According to their news release, they are calling on all MPs to “focus urgently on restoring Canada’s economic competitiveness and creating the conditions for a turnaround in living standards.”
Their letter cites “mounting concerns over Canada’s economic trajectory, including near-zero growth in GDP per capita over the past decade, unsustainable growth in the public sector, and a troubling weakness in private sector activity.”
“That whole letter really was focused on making sure that the growth in the private sector in fact is greater than the growth of the public sector,” said Prabha Ramaswamy, CEO of the Saskatchewan Chamber of Commerce.
“And that is really important for our economy, for the Canadian economy in order to make it sustainable. We really need to be on a trajectory that's upward in growth and we have been seeing the reverse in the last few years.”
Ramaswamy said there are three things they are looking for.
“We would like to make sure that this federal government is standing up for our energy sector, oil and gas industry, and also other forms of energy.
“Two, we are also calling on this government to take another look at the taxation regime. We need to be more competitive. We've lost investments as a result of our taxation regime.
“And three, we're asking this federal government to take a look at the regulatory burden that they have placed on many of our businesses. As a result, we've not been competitive and we've not been able to compete not only in a Canadian environment but in a global environment.”
According to the joint letter, they are calling for the government to abandon the proposed oil and gas emissions cap, which they say could undermine economic growth and global emissions reductions goals; to improve tax competitiveness, with recommendations fo improvements to depreciation allowances for capital investments and a more competitive personal income tax system to attract and retain skilled workers; and to streamline regulatory processes.
“The Coalition’s message is clear: Canada must act immediately to create a vibrant investment climate and growing economy, or risk further decreases in investment, economic performance, and living standards,” their news release states. They cite record-high food bank usage, over two years of negative population-adjusted economic growth, sluggish business investment, as well as the serious threat of proposed U.S. tariffs.
The Coalition adds that some of their members will be in Ottawa for the return of Parliament.
