TORONTO, Jan. 31 /CNW/ - The Certified General Accountants of Ontario
(CGA Ontario) presents to the Standing Committee on Finance and
Economic Affairs at Queen's Park today, participating in the
government's consultation in preparation for the 2011 provincial
"CGA Ontario is committed to making the province of Ontario an even
better place to do business and to live," said Doug Brooks, FCGA, CEO, CGA Ontario.
Recommendations put forth by CGA Ontario outline collective knowledge,
ideas and aspirations as a partner of government and business for the
coming fiscal year:
Short Term - Manage the deficit and return to balanced budgets:
Accelerate deficit reductions over the next three years and return to
balanced budgets prior to 2017-18; at which time, reduce the
accumulated debt by a minimum of $2 billion annually.
Recommended measures to manage the deficit:
Conduct cost/benefit analysis of initiatives funded through the stimulus
Maintain permanently the program expenditure review working group.
Ensure all ministries are included in the program expenditure review.
Ensure the working group operates on an inter-ministerial basis.
Tie expenditure growth in healthcare to a benchmark, e.g. consumer price
index, growth in gross domestic product.
Create an expert panel comprised of economists, actuaries and
accountants, who have expertise in the financial management of health
"Without prompt return to balanced budgets, there is concern that
growing debt will burden Ontarians for decades to come," said Doug
Brooks, FCGA, CEO, CGA Ontario. "It could also limit the government's
ability to invest in what we see as priority areas, such as public
infrastructure and labour development which would hamper Ontario's
Long-term - Establish an economic development strategy:
Foster a culture of entrepreneurship and innovation.
Leverage the strength found in existing economic clusters.
Assist in expanding export markets, particularly for small and
"Currently, the small and medium-sized enterprise (SME) sector employs
50 per cent of Ontario's workforce but only represents 35 percent of
Ontario's exports and these exports are derived from only eight per
cent of SMEs," said Ted Wigdor, vice-president, government and
corporate affairs, CGA Ontario."
Certified general accountants see more than numbers. They bring more than a century of experience delivering accounting and
finance expertise to all sectors of the Ontario economy. Whether it's
financial forecasting or helping in the acquisition of a new business,
a Certified General Accountant's skills can lead to great success in
these ever-changing economic times. www.cga-ontario.or / www.cga-more.org
CGA Ontario is a self-governing body that grants the exclusive rights to
the CGA designation and controls the professional standards, conduct
and discipline of its 20,000 certified general accountants (CGAs) and
8,000 students in the CGA program of professional studies in the
province of Ontario.
SOURCE CERTIFIED GENERAL ACCOUNTANTS OF ONTARIO
For further information:
Amy Mulhern, Manager, Public Relation, CGA Ontario
Telephone: 416-544-4781 / 1-800-668-1454 ext. 8311 / Mobile: 416-606-5860