TORONTO, ONTARIO--(Marketwire -09/07/11)- Ontario's next government must better its standing as a preferred destination for business investment, innovation and job creation to sustain the ongoing economic recovery and maintain the standard of living Ontarians expect and enjoy, according to Canadian Manufacturers & Exporters (CME).
In an open letter to party leaders, CME commended the province for its progress on several important issues, such as the introduction of the HST, but stressed the need for continuous improvement focused on five key priority areas: energy affordability, tax reduction, people and skills, regulatory efficiency and infrastructure.
"This is a critical time for Ontarians as our economy emerges from deep recession," explains Ian Howcroft, vice president, CME Ontario. "The strength of the Loonie, surging commodity prices and an uncertain outlook for our trading partners should clearly remind us of the risks that jeopardize economic growth."
The letter also highlighted other noteworthy pressures - including unprecedented levels of borrowing by governments and consumers, an aging population, and rapid advancements in technology - that pose a significant threat Ontario's fiscal stability.
"We can't count on borrowing our way to prosperity," says Howcroft. "We must rely on business investment and competitiveness to drive the recovery, increase productivity and guarantee the long-term economic growth necessary to maintain a quality of life that is the envy elsewhere in the world."
CME directly represents roughly one million Ontario voters. For more information on CME's positions and recommendations, read the letter to party leaders.
Canadian Manufacturers & Exporters (CME) is Canada's leading trade and industry association, and the voice of manufacturing and global business in Canada.
CME focuses on the issues that are most critical to our members - manufacturing competitiveness, US business opportunities, international markets, people and skills, energy and the environment. Their challenges are our priorities. We offer solutions for our members through our leadership in: CME Advocacy, CME Intelligence, CME Business Opportunities, CME Best Practices and CME Networking.
Since 1871, we have made a difference for Canada's manufacturing and exporting communities. Fighting for their future. Saving them money. Helping them grow.
The association represents more than 10,000 leading companies nationwide. More than 85 per cent of CME's members are small and medium-sized enterprises. As Canada's leading business network, CME - through various initiatives including the establishment of the Canadian Manufacturing Coalition - touches more than 100,000 companies from coast to coast, engaged in manufacturing, global business and service-related industries.
CME's membership network accounts for an estimated 82 per cent of Canadian manufacturing production and 90 per cent of all exports.