CEOs Strongly Endorse Government’s Competitiveness Roadmap

November 23, 2006

Comments by Thomas d’Aquino, Chief Executive and President of the Canadian Council of Chief Executives,on the federal government’s economic and fiscal update:

“The challenges to the future prosperity of Canadians are daunting and complex. They require a broad strategy that will enable Canadians to compete and win in a rapidly evolving global economy. Today, the government has laid out a bold competitiveness roadmap that is clear, compelling and comprehensive.

“By cutting taxes, debt and red tape, by encouraging enterprises to innovate and grow and by investing in both critical infrastructure and the knowledge and skills of Canadians, the Advantage Canada strategy announced today by Finance Minister Jim Flaherty will enable Canadians to compete more effectively on every front.

“The Canadian Council of Chief Executives heartily endorses in particular the key goals laid out in the government’s competitiveness strategy, which include: making the effective tax rate on new business investment the lowest in the G-7; slashing the administrative burden of regulation by 20 percent; and encouraging more foreign investment, more competition and more business innovation.

“Business leaders also welcome the bold new goal of eliminating total government net debt by 2021. Paying interest is the worst form of public spending. Paying down the debts of yesterday is the best way to ensure that governments can meet the real needs of Canadians tomorrow.”