Toronto Board of Trade

Toronto Board of Trade

October 10, 2007 22:04 ET

Board of Trade Responds to Election Results

McGuinty win creates “historic opportunity” to help Toronto

Attention: Business/Financial Editor, City Editor, News Editor, Government/Political Affairs Editor TORONTO, ONTARIO--(Marketwire - Oct. 10, 2007) - The Toronto Board of Trade congratulates Dalton McGuinty on his re-election and calls on the new Premier to act swiftly on key issues facing their city.

"We wish Premier McGuinty all the best in his second term," says Board of Trade President & CEO Carol Wilding, "Now, he has an historic opportunity to help keep Toronto a great global city."

"We welcomed the Premier's actions and promises in recent months on the issues of uploading, business taxes and public transit investment. However, more will need to be done, and faster, to maintain Toronto's status as Ontario's economic engine."

Specifically, the Board is calling for the new Ontario government to:

o Accelerate uploading. The Premier has promised to act on a review of social services costs, due next February. The Board wants that review completed and implemented before the next Toronto budget in the spring.
o Fund public transit. The Board calls for a return to funding of both capital and operating costs of transit in Toronto, and increased support for the Greater Toronto Transportation Authority to plan and build across our region.
o Enhance competitiveness. The Board is calling for reform of the PST and immediate elimination of the provincial capital tax in order to build a more competitive business climate in Toronto and across the province.

"We look forward to seeing these issues addressed in the next Throne Speech," concludes Wilding.

The Toronto Board of Trade is the champion of a competitive and vibrant Toronto with a mandate to serve, connect and represent the city's business community. Founded in 1845, Canada's largest chamber of commerce operates at locations across Toronto. Information about Board policies, facilities, services and products are available on its website at www.bot.com.
/For further information: www.bot.com/media/ IN: ECONOMY, FINANCE, POLITICS

Contact Information

  • Glen Stone, Public Affairs Director, Toronto Board of Trade
    Primary Phone: 416-862-4565
    Secondary Phone: 416-998-9458
    E-mail: gstone@bot.com