Toronto Board of Trade

Toronto Board of Trade

November 23, 2006 18:32 ET

Advantage Canada? Here's How!

Toronto Board of Trade suggestions for implementing Flaherty plan Attention: Business/Financial Editor, City Editor, News Editor, Government/Political Affairs Editor

TORONTO, ONTARIO--(CCNMatthews - Nov. 23, 2006) - The Toronto Board of Trade is offering suggestions to Finance Minister Jim Flaherty on how to implement the Advantage Canada plan he outlined today.

"The Minister has told us what he wants to do and why," said Board of Trade Chair Becky McKinnon, "We agree with his idea of creating advantages for Canada - what was missing were details of how to achieve those goals. Well, we have some suggestions."

The Toronto Board is offering implementation ideas for each of the five 'Canadian advantages' the Minister hopes to create:



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Canadian Advantage Toronto Board of Trade's suggested steps
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Tax Advantage Reduce the corporate income tax rate by one per cent
a year for the next four years, starting in 2007
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Fiscal Advantage Address the fiscal imbalance through new
arrangements with provinces/territories and cities
---------------------------------------------------------------------------
Entrepreneurial Encourage the provinces to replace their retail sales
Advantage taxes with a value added tax, integrated with
the GST
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Knowledge Advantage Increase public and private sector investments
in post-secondary education and research
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Infrastructure Invest an additional $1 billion a year in public
Advantage transit across Canada and develop a national
housing policy
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"We applaud the sentiments behind the Advantage Canada plan," concludes McKinnon, "But whether it creates a real competitive advantage for our nation will depend on how the good intentions are implemented."

The Toronto Board of Trade is the champion of a competitive and vibrant Toronto with a mandate to serve, represent and unite the city's business community. Founded in 1845, Canada's largest chamber of commerce operates at four locations across Toronto. Further information about Board events, policies, advocacy and products is available on its website at www.bot.com. Commentary from Board executives can be found on the Board Blog at www.bot.com/blog.

IN: ECONOMY, FINANCE, POLITICS

Contact Information

  • Glen Stone
    Public Affairs Manager
    Toronto Board of Trade
    416-862-4565
    Email: gstone@bot.com