Board of Trade Reacts to Economic Update

    TORONTO, Oct. 22 /CNW/ - Today Carol Wilding, President and CEO of the
Toronto Board of Trade issued the following statement in response to the
Economic Update presented in the Ontario Legislature by the Hon. Dwight
Duncan, Ontario's Finance Minister.
    "Today's Economic Update certainly puts the current global financial
situation into stark relief. The Toronto Board of Trade is pleased that the
McGuinty Government has chosen to stay the course on personal income taxes and
social services while trimming expenditures within government and deferring
plans for new spending. As well, the Board is very pleased that the government
did not slow any commitments for infrastructure - particularly Metrolinx - and
we would encourage the government to get the shovels in the ground.
    "At the same time, the Board is disappointed that the government did not
take its advice to cut Ontario's business taxes to stimulate growth.
    "The Board of Trade applauds the Minister's call for early pre-budget
consultations with the Legislature's Finance Committee and we look forward to
working closely with the committee and the Government of Ontario as we move
towards next year's budget."

    With a rich, 163-year history and an innovative vision for the future of
our city, the Toronto Board of Trade works with all levels of government to
help the Toronto region achieve its full potential economically, socially and
culturally. Nearly 10,000 corporate and individual members represent
businesses of all sizes in virtually all sectors, operating throughout the
Greater Toronto Area.

For further information:

For further information: Andrea Ritter, Director, Communications,
Toronto Board of Trade, 1 First Canadian Place, PO Box 60, Toronto, ON, M5X
1C1, Phone: (416) 862-4507, Mobile: (416) 509-0486, Fax: (416) 366-5620, Web:

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