The Canadian Chamber of Commerce and its network call on federal parliamentarians to follow through on their promise to reduce business taxes

OTTAWA, Feb. 17 /CNW/ - Today, the Canadian Chamber of Commerce, in partnership with all the provincial and territorial chambers across the country, is launching a national campaign calling on all federal parliamentarians to keep their promise of reducing business taxes.

In a message to over 420 local chambers of commerce and boards of trade, representing 192,000 businesses of all sizes across Canada, Perrin Beatty, President and Chief Executive Officer of the Canadian Chamber of Commerce stated: "Our political leaders have to live up to the promises they have made. Businesses across the country have invested with the understanding that taxes would decline. A sudden change of course would constitute a broken promise to thousands of businesses and the people they employ."

With government stimulus programs ending this year, the tax reductions are especially important as they will free up capital to be put to work to grow Canada's businesses and its economy. This strategy has been supported by a majority of parliamentarians in two federal budgets since its inception in 2007.

"Government stimulus was important during the crisis, but it's not the basis of real economic growth," added Mr. Beatty. "Sustainable growth requires the private sector investment that can generate new jobs and federal revenues to pay down the deficit. The current tax plan, which was supported by both Liberal and Conservative parliamentarians, is essential for that investment."

Business tax reductions are relevant to all Canadian business—large and small—in all regions of the country. In particular, small business has a keen interest in this issue. Most small businesses are suppliers to bigger businesses; opportunities flow when the larger firms have the capital to buy. The alternative—rising taxes—dries up those opportunities. A vibrant large business sector leads to a strong and prosperous small business sector.

Mr. Beatty told Canadian Chamber members that Canada's businesses need to speak out on tax competitiveness. "All Canadians lose when the political parties squabble over this issue. Our job is to help secure sustainable economic growth. We have a weak recovery underway, and we need the help the business tax strategy provides. The issue is too serious to be left to political game players."

In addition, today, the Canadian Chamber released a report entitled Business Tax Relief is Crucial to Canada's Economic Success. In its report, the Canadian Chamber outlines that Canada has made steady progress in improving its business tax competitiveness over the last decade and that those actions have not gone unnoticed. The report demonstrates that increasing taxes on Canadian families and businesses is the wrong way to eliminate deficits. In a highly integrated global economy, the tax base is constantly on the move. Skilled workers, businesses, jobs and capital move easily across national borders, seeking the best economic opportunities. They are drawn to low-cost, low-tax environments.

The Canadian Chamber of Commerce will be working with its membership and Canadian business all across the country over the coming weeks to continue to sensitize the federal politicians of the importance of this issue for Canada's economic prosperity.

The Canadian Chamber of Commerce is the vital connection between business and the federal government. It helps shape public policy and decision-making to the benefit of businesses, communities and families across Canada with a network of over 420 chambers of commerce and boards of trade, representing 192,000 businesses of all sizes in all sectors of the economy and in all regions.

To read the Canadian Chamber's report, Business Tax Relief is Crucial to Canada's Economic Success, please go to www.chamber.ca.


SOURCE Canadian Chamber of Commerce, The

For further information:

Emilie S. Potvin
Director, Public Affairs
Office: 613.238.4000 (231)
Cell: 613.797.1860
epotvin@chamber.ca

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Canadian Chamber of Commerce, The

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