Government follows CMA Canada's recommendation to focus on innovation, a key driver for productivity growth for Canada
OTTAWA, March 4 /CNW/ - Certified Management Accountants of Canada (CMA Canada) welcomes Budget 2010's focus on making Canada more globally competitive and encouraging greater investment in Canada.
The budget contains specific measures that will help Canadian businesses increase their capacity to innovate and become more productive. These include:
- Developing a Digital Economy Strategy;
- Investing in economic sectors of the future, such as green power
- Making new investments in public sector-led Research and Development
(R&D), including providing incentives to attract the best and
brightest research leaders and facilitating the commercialization of
- Staying the course on corporate tax reductions.
"CMA Canada believes Budget 2010 makes Canadian businesses more globally competitive by eliminating barriers to investment in Canada and increasing their capacity to innovate," said Joy Thomas, MBA, FCMA, C.Dir., President and CEO of CMA Canada.
"CMA Canada is encouraged that the government is focusing on innovation, such as developing a Digital Economy Strategy that will further prepare Canadian companies to meet the changing nature of global competition and ensure Canada's future economic prosperity."
While CMA Canada welcomes the new investment in public sector R&D included in Budget 2010, the government must continue to encourage business-led R&D, which is a critical source of innovation. To this end, the government should consider CMA Canada's pre-budget recommendation of enhancing the Scientific Research and Experimental Development (SR&ED) tax credit by enhancing the refundability provisions.
As increased adoption of Information Communication Technology (ICT) is a key driver of productivity and a contributing factor to innovation, CMA Canada continues to call for tax incentives that encourage greater investment in this area, particularly among Small and Medium-sized Enterprises.
About CMA Canada
With 50,000 members around the world, CMA Canada grants a professional designation in strategic management accounting(TM) and is responsible for standards-setting, accreditation and the continuing professional development of CMAs. CMAs provide an integrating perspective to business decision-making, applying a unique blend of expertise in accounting, management and strategy to identify new market opportunities, ensure corporate accountability, and help organizations maintain a long-term competitive advantage. To optimize the performance of global enterprises and build strategic management accounting(TM) skills, CMA Canada offers innovative executive development programs, advanced online courses, and internationally recognized knowledge management publications. For more information, visit www.cma-canada.org.
SOURCE CMA Canada
For further information: For further information: on CMA Canada's recommendations or to arrange to speak with Ms. Thomas, please contact: Nicolas Todd, Bluesky Strategy Group (for CMA Canada), Tel: (613) 241-3512 ext. 227, Cell: (613) 255-1478 (budget day), Email: firstname.lastname@example.org; Cindy Mantione, Communications Officer, CMA Canada, Tel: (905) 949-3116, Toll-free: 1-800-263-7622 ext. 3116, Email: email@example.com