OTTAWA, Feb. 8 /CNW/ - The following is a statement by Russell Williams, President of Canada's Research-Based Pharmaceutical Companies (Rx&D) on the tax reduction policy initiative of the Canadian
government to improve Canada's ability to compete in the global
"The initiative to improve Canada's corporate tax rates is an important
element in making sure Canada's economic recovery creates an
environment that supports job creation and investment.
"Canada is emerging from the world-wide economic turmoil in a position
to build on the strengths that helped us to weather the disruption and
dislocation faced by other countries. These strengths are based on our
ability to compete in the global economy and to create the high-value,
knowledge-based jobs and careers that support hard-working Canadian
"Tax rates that are competitive, that encourage and expand investment
and that put Canada at the forefront of leading edge industries are a
vital part of sustaining and building on our economic recovery.
"We view an effort to roll back the competitive tax regime as an
impediment to the continued success of innovative Canadian companies.
Along with the protection of intellectual property rights and open
procurement policies, competitive tax regimes are the key to Canada's
continued prosperity and capacity to create the kinds of jobs we want
in life sciences. Our health care system also benefits from the value
that new life-saving and life enhancing medicines and vaccines create.
"A tax environment that helps our companies compete for global
investments will help sustain and accelerate our economic recovery and
will lay the foundation for employment growth and opportunity for
individual Canadians, their families and for communities."
Rx&D is the association of leading research-based pharmaceutical
companies dedicated to improving the health of Canadians through the
discovery and development of new medicines and vaccines. Our community
represents 15,000 men and women working for 50 member companies and
invests more than $1 billion in research and development each year to
fuel Canada's knowledge-based economy. Guided by our Code of Ethical
Practices, our membership is committed to working in partnership with
governments, healthcare professionals and stakeholders in a highly
SOURCE CANADA'S RESEARCH-BASED PHARMACEUTICAL COMPANIES (RX
For further information: