TORONTO, March 26, 2012 /CNW/ - On March 29, the much-awaited "jobs-and-growth budget," as described by Finance Minister Jim Flaherty, will come down and Canadians will learn how the Harper government plans to tackle the country's economic growth.
According to the most recent Labour Force Survey, unemployment in Canada currently stands at 7.4 per cent. While consumer confidence has shown gains in recent months, significant concerns remain over the high household debt levels and weak employment numbers.
In advance of Thursday's budget announcement, Rowan O'Grady, President of Hays Canada, a national recruitment consultancy, is available to comment on what the federal budget should include to stimulate Canadian companies to hire and improve the country's economic outlook, including:
- Continued investment in training and education. The labour market in Canada will become increasingly hour-glass shaped, with semi-skilled workers being squeezed out of an increasingly automated workplace. To alleviate this trend, the government must continue to invest in equipping people with relevant skills for Canada's growing and future industries.
- Invest in the promised overhaul of the immigration system quickly to keep our borders open to in-demand and highly skilled workers. Without this supply of workers for specific roles, Canadian companies' growth is being - and will continue to be - severely hampered.
- Continue to lower corporate tax rates beyond 2012. Corporate tax rates have been reduced since 2008 and Canada has the lowest tax rate for new business investment in the G7. This trend must continue to allow companies to grow and attract overseas investment.
- Invest in modern, cost-effective public transportation in major cities, giving efficiencies to employers and employees. This would grant companies better access to labour pools, allow them to expand more easily, and encourage global firms to invest in building their operations in Canada.
- Offer improved incentives for start-up organizations through increased tax breaks and grants. In a constantly changing and competitive marketplace, Canada needs to see a steady stream of new companies offering innovative services and products. The government must invest in these new enterprises to give them every chance of long term success.
About Hays Canada:
Hays Specialist Recruitment Canada is a wholly owned subsidiary of Hays plc, which has been at the forefront of the global recruitment industry for over 35 years. Hays is a leader in specialist recruitment in Canada and Australia. With annual revenues of over £2.1 billion, Hays Specialist Recruitment is the largest specialist recruitment consultancy in the world.
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