Federal economic policy: greater consistency required

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Added on 23 October 2013 in Press releases

Montréal, October 23, 2013 ‒ The Board of Trade of Metropolitan Montreal responds very positively to recent progress in Canadian economic policy, but believes that the federal government is heading down the wrong path by maintaining its decision to gradually eliminate the tax credit on investments in labour-sponsored funds.

“In recent days, the federal government announced two pieces of good news for our economy,” said Michel Leblanc, President and CEO of the Board of Trade of Metropolitan Montreal. “The conclusion of an agreement in principle on the Comprehensive Economic and Trade Agreement is a major advance that will have a structuring impact on the Canadian economy, and on the economy of Montréal. The recent announcement that efforts to reduce the deficit will produce results earlier than anticipated and that a zero deficit could be achieved by 2014-2015 is excellent news, even more so given that we should get there without unduly hampering economic growth.”

“However, the Board of Trade joins its voice with that of other economic development players in Quebec in criticizing the federal government’s decision to undermine labour-sponsored funds by gradually eliminating the tax credit on investments in these funds,” Michel Leblanc said.

“The central element of the federal government’s agenda is the economy and employment,” Mr. Leblanc said. “We support this priority. But it is unfortunate that the federal government doesn’t recognize the strategic importance of labour-sponsored funds in Quebec, both from the point of view of businesses and savers. To be consistent, the government should have reconsidered its decision and announced a third piece of good news for the economy of Quebec and Montréal.”

About the Board of Trade of Metropolitan Montreal

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.

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Source:

Michelle LLambias Meunier
Advisor, Media Relations
Board of Trade of Metropolitan Montreal
Tel.: 514 871-4000, ext. 4042
mllambias@ccmm.qc.ca 

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