Canadian Manufacturers & Exporters

Canadian Manufacturers & Exporters

December 03, 2009 15:06 ET

Strong Support for Comprehensive Tax Reform: CME

QUEEN'S PARK, TORONTO, ONTARIO--(Marketwire - Dec. 3, 2009) - CME supports the comprehensive tax reform package detailed in Ontario's Bill 218.

"We need this type of bold action to ensure a more fulsome economic recovery," said Ian Howcroft, vice president of Manufacturers & Exporters (CME) Ontario. "Specifically, the combination of the Harmonized Sales Tax, corporate tax reductions and reductions to the corporate minimum tax will free up much needed cash for businesses to make the necessary investments to remain competitive in what continues to be a very challenging environment. These reforms will make Ontario a much more attractive destination for investment."

Initiatives like the CME SMART Program have also lead to massive savings and productivity improvements for the critical manufacturing and exporting sectors. In total, the SMART program retained 6,395 manufacturing jobs and an additional 3,312 jobs are forecasted to be created as a result of projects yet to be completed. It is imperative that we look to support those sectors that contribute considerably to government tax revenue. In Ontario, manufacturers and exporters contribute roughly one third of government tax revenue.

CME also urges the Ontario government to eliminate input tax credit restrictions on HST as quickly as fiscally possible and to look at greater property tax equity and monetization of tax credits like SR&ED as opportunities to stimulate further investment in innovation and economic growth.

Canadian Manufacturers & Exporters (CME) is Canada's leading trade and industry association and the voice of manufacturing and global business in Canada.

The association directly represents more than 10,000 leading companies nationwide. More than 85% of CME's members are small and medium-sized enterprises. As Canada's leading business network, CME, through various initiatives including the establishment of the Canadian Manufacturing Coalition, touches more than 100,000 companies from coast to coast, engaged in manufacturing, global business and service-related industries.

CME's membership network accounts for an estimated 82% of total manufacturing production and 90% of Canada's exports.

Contact Information

  • CME Ontario
    Ian Howcroft
    Vice President
    CME Ontario
    Paul Clipsham
    Director of Policy