Strategic Growth Plan Required To Keep Ontario CompetitiveMay 17, 2018
(Toronto, May 17, 2018) – With election day just weeks away, the Ontario Chamber of Commerce (OCC) today called on all political parties to commit to reducing input costs and the regulatory burden felt by businesses across the province. In the OCC’s Vote Prosperity platform, strengthening business competitiveness is not only fundamental for employers but also the success of the entire province.
With industry struggling to compete under increased costs and regulations, the OCC would like Ontario’s next government to establish a publicly available analysis of the cost of doing business, as well as adopt a robust approach to reducing red tape.
“Our members have made it clear: the rising cost of doing business is hindering their growth and Ontario’s prosperity,” said Rocco Rossi, President and CEO of the Ontario Chamber of Commerce. “Ontario has a competitiveness problem and bold action is required by our next government to address these challenges. That is why the OCC is calling on all political parties to adopt our plan to reduce the regulatory and cost burden on Ontario businesses.”
Ontario is currently the most regulated province in the country, altogether harming economic prosperity and our ability to compete in the global marketplace. Strengthening Business Competitiveness is the first pillar for a strong Ontario in the OCC’s Vote Prosperity platform, which calls on the next government to:
- Allow Ontario businesses to purchase surplus electricity at rates equal to or better than the exported price to other jurisdictions.
- Conduct and publish the results of a comprehensive review of the electricity sector, including an objective economic impact analysis assessing the full range of inputs that make up the Global Adjustment, and then pursue cost-reducing measures based on the results.
- Pursue efforts to reduce Ontario’s greenhouse gas emissions in a manner that effectively mitigates risk to business competitiveness.
- Work with federal and local levels of government to establish a publicly available analysis of the cost of doing business in Ontario.
- Reinstate scheduled reductions in the Corporate Income Tax, standardize the Business Education Tax and reduce the Employer Health Tax.
“There is a direct relationship between the ability of Ontario’s entrepreneurs to invest in themselves, in their people, and in their communities and our collective ability to prosper,” added Rossi. “In this election, for Ontario to win, we must ensure that the connection between a strong private sector and a prosperous society is not lost.”
In October the OCC, along with its 135 chambers of commerce and boards of trade across the province, released Vote Prosperity, a platform outlining the business community’s priorities for the upcoming 2018 provincial election.
For more information please contact:
Ceara Copps – Edwards
Ontario Chamber of Commerce