Stay the Course Action Lacks Stimulus

    TORONTO, Oct. 22 /CNW/ - The Ontario government's fall economic statement
has missed an opportunity to provide stimulus to the economy by relying on an
economic plan that may not be reflective of the current situation.
    "Ontarians need confidence and what is required is a plan with bold
leadership," explains Len Crispino, President & CEO of the Ontario Chamber of
Commerce (OCC). "While we are disappointed to see a deficit, it would be
easier to accept if it were accompanied by a plan to stimulate the economy and
to build a foundation for a more competitive province at the end of this
economic turmoil."
    Pushing forward with its infrastructure investments is a positive move,
and the OCC looks forward to seeing more concrete actions in the next budget
that would help to reduce the cost of doing business and provide confidence to
all taxpayers.
    "Lowering taxes isn't the only way to reduce business costs," adds
Crispino. "Cutting through the mountain of unnecessary red tape, overlapping
audits and overzealous enforcement which are costing businesses billions of
dollars each year, will go a long way to helping businesses maintain
profitability during these difficult economic times."
    Similarly, the OCC believes that it's vital the government establish a
timeline to move to a system of smarter taxation that removes the
disincentives to invest in innovation, and removes barriers to growth, paving
the way for higher productivity and job creation.
    The OCC looks forward to working with the Ontario government to identify
strategies that will form the basis of a three to five year economic plan
which will help strengthen Ontario so that it will emerge from the current
economic climate in a globally competitive position.

    The OCC represents over 60,000 businesses through 160 local Chambers of
Commerce and Boards of Trade, and has been Ontario's business advocate since
1911. Its advocacy and policy initiatives focus on six areas key to the
economic well-being of the province: health; education; energy; finance &
taxation; transportation & infrastructure; and border issues.

For further information:

For further information: Amy Terrill, Ontario Chamber of Commerce, W:
(416) 482-5222, ext. 241, C: (416) 605-8205,

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