Vaughan Chamber of Commerce: Budget ‘fails’ to reduce ‘burden’ on businesses
What the budget didn’t address are ‘key issues identified by businesses across Canada,’ and not just in Vaughan, says Chamber
Yorkregion.com
March 22, 2019
Dina Al-Shibeeb
The head of Vaughan Chamber of Commerce criticized on Wednesday, March 20 the federal budget for 2019, saying that it “fails” to provide “concrete measures” to reduce “regulatory burden on business.”
“We had hoped for greater investments from the federal government in this budget for local businesses and job creators,” said Brian Shifman, president and CEO of the Vaughan Chamber of Commerce, in a statement.
Shifman, however, said that the budget “delivers on some of our advocacy priorities, particularly in the areas of skills and infrastructure."
What the Chamber found agreeable includes funding to ensure high-speed internet access is Canada-wide by 2030, with $1.7 billion specifically earmarked for rural, remote and northern communities.
In addition to that, the Chamber praised the $631.2 million to expand Work-Integrated-Learning (WIL) programs, with a view to create up to 20,000 new WIL opportunities outside of STEM-related fields; $150 million to create new partnerships between government and industry to create up to 20,000 new WIL opportunities; as well as multiple funding mechanisms to enhance apprentice programs in skilled trades.
But Shifman said that the budget “fails to provide concrete measures to address the tax and regulatory burden on businesses.”
What the budget didn’t address are “key issues identified by businesses across Canada” -- and not just in Vaughan.
These include a commitment to a comprehensive review of the taxation system to make it fair and less cumbersome for businesses, a broad-based commitment to reduce the regulatory burden on businesses, and a renewed commitment to eliminating interprovincial trade barriers and mobility.
The Chamber also wants support for SMEs to help them find new export opportunities and expand Canada’s ability to diversify its trade. On top of that, the Chamber wants a clear strategy to move the Trans Mountain Pipeline forward, given the significant investment made by Canadian taxpayers.
The criticism of the budget comes after Vaughan has passed its 2019 budget in late February.
Residents who have property valued at $891,000 will pay an extra $53 -- the city agreed on the three-per-cent tax increase to cover the $310 million budget.
In late January, federal Finance Minister Bill Morneau met with York Region business leaders in Aurora where the issue of tax reform topped their concerns.
Some of the business leaders at the Royal Venetian Mansion at Aurora told Morneau that Canada doesn’t have a global edge when it comes to competitiveness and that’s mainly due to its tax system, especially after the U.S. tax reforms erase Canada's corporate tax advantage.
Ahead of the federal election on Oct. 21, the Chamber said that it will, alongside the Canadian Chamber network, continue to engage with federal representatives.
“The core issues facing our economy that are driving away investment and suffocating our ability to attract top talent are broken taxation and regulatory systems and an inability to get our resources to tidewater,” said Perrin Beatty, president and CEO of the Canadian Chamber of Commerce.
