Three parties' views on financial services unveiled as Ontario election campaign begins

 

TFSA makes all candidates debate available on website

TORONTO, Sept. 7, 2011 /CNW/ - The three parties represented in the Ontario Legislature have all expressed strong support for a national securities regulator headquartered in Toronto and, for the first time, all agree that the federal government should be asked to review the treatment of HST with regard to financial products.  These are just two of the topics addressed during an all candidates debate on issues of importance to the financial services industry that was arranged by the Toronto Financial Services Alliance (TFSA).

Today, as the 2011 Ontario election campaign begins, the TFSA has made available for viewing on its website (www.tfsa.ca) the entire proceedings of the 90-minute debate.  Recorded last week, the debate attracted 150 members of Toronto's financial services community, including the senior executives of eight of TFSA's member associations.

Representing the three parties were:

  • the Liberal government's Minister of Economic Development and Trade, Sandra Pupatello;
  • Rocco Rossi, the Ontario PC Party candidate for Eglinton - Lawrence; and
  • Beaches - East York MPP Michael Prue, the former Ontario New Democratic Party finance critic.

The strong interest in the debate - which necessitated relocation to a bigger venue - underlines the importance of financial services to the economy.  "There is a strong appreciation among all the parties of the role our Canadian financial services industry has played over recent years," said TFSA president Janet Ecker, who moderated the debate. "The industry is a steady source of good, well paying jobs, and our industry wants to be sure that all the parties recognize that we need to maintain the sector's international competitiveness."

In the first round of questioning, the party representatives addressed issues raised by the Association of Canadian Pension Management, the Canadian Life and Health Insurance Association, the Canadian Bankers Association, Certified General Accountants of Ontario, Insurance Bureau of Canada, the Investment Funds Institute of Canada, the Investment Industry Association of Canada, and the TFSA. After that, the debate was opened to questions from the floor.

"This was our second pre-election debate," said Ms. Ecker, "and, to judge by the response, it is going to become a tradition.  Our members find it a great way to size up the parties on issues that matter."

About the Toronto Financial Services Alliance

The Toronto Financial Services Alliance is a growing public-private partnership dedicated to increasing Toronto's role as a global financial services hub. Established in 2001 by the City of Toronto in partnership with the financial industry, TFSA works on behalf of the entire financial cluster, including its business and educational support sectors. With both the federal and provincial governments now joining the partnership, TFSA has established the Global Risk Institute in Financial Services to leverage the sector's global reputation for stability, as well as the Centre of Excellence in Financial Services Education to capitalize on Toronto region's human capital advantages.

Image with caption: "L to R: New Democrat Michael Prue, Liberal Sandra Pupatello and PC Party candidate Rocco Rossi square off at the all candidates meeting on financial services (CNW Group/Toronto Financial Services Alliance)". Image available at: http://photos.newswire.ca/images/download/20110907_C9099_PHOTO_EN_2902.jpg

Image with caption: "Eglinton - Lawrence PC candidate Rocco Rossi (centre) responds to questioner while Beaches - East York MPP Michael Prue (left) and Toronto Financial Services Alliance president Janet Ecker watch on. (CNW Group/Toronto Financial Services Alliance)". Image available at: http://photos.newswire.ca/images/download/20110907_C9099_PHOTO_EN_2903.jpg

Image with caption: "Former NDP finance critic Michael Prue responds to a question at the all candidates debate on financial services. (CNW Group/Toronto Financial Services Alliance)". Image available at: http://photos.newswire.ca/images/download/20110907_C9099_PHOTO_EN_2904.jpg

Image with caption: "Minister of Economic Development and Trade Sandra Pupatello responds to a question at the all candidates debate on financial services. (CNW Group/Toronto Financial Services Alliance)". Image available at: http://photos.newswire.ca/images/download/20110907_C9099_PHOTO_EN_2905.jpg

Image with caption: "Eglinton - Lawrence PC candidate Rocco Rossi responds to a question at the all candidates debate on financial services (CNW Group/Toronto Financial Services Alliance)". Image available at: http://photos.newswire.ca/images/download/20110907_C9099_PHOTO_EN_2906.jpg

SOURCE Toronto Financial Services Alliance

For further information:

Brian Smith, tel. (416) 822.-3130
bsmith@tfsa.ca


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