Confidence and Economic Strength at Home and Creative Engagement Abroad are the Keys to Sovereignty, Security and Prosperity Chief Executives Tell Deputy Prime Minister

January 15, 2002

Making Canada the best country in which to live, work, invest and grow, and punching above our weight in the global arena are the keys to sovereignty, security and prosperity the members of the Canadian Council of Chief Executives (CCCE) said at a lunch honouring John Manley, appointed this morning as Deputy Prime Minister, for his selection as Time Magazine’s Canadian Newsmaker of the Year for 2001.

The lunch concluded the first Annual General Meeting of the Council, which is made up of the chief executive officers of 150 leading Canadian corporations. Formerly known as the Business Council on National Issues, it recently changed its name as part of a re-engineering of the organization to enable member chief executives to engage more effectively in public policy in North America and globally as well as within Canada.

“Canada’s vital issues are now global issues,” said Jean Monty, Chairman of the Council and Chairman and Chief Executive Officer of Bell Canada Enterprises Inc. “Ensuring that all Canadians realize their full potential in the global economy requires business leadership without borders.”

Earlier sessions at the annual meeting launched the work of the Council’s CEO Action Group on Canada-United States Co-operation, formed in December to consider strategies for managing Canada’s relationship with its principal ally and trading partner. Speakers included former White House Chief of Staff Thomas F. McLarty; John Castellani, President of The Business Roundtable, the Canadian Council’s American counterpart; former United States Ambassador to Canada Thomas Niles, now President of the United States Council for International Business; and Canada’s Ambassador to the United States, Michael Kergin.

The Council’s President and Chief Executive, Thomas d’Aquino, praised the recent Smart Border Declaration signed by Mr. Manley, then Minister of Foreign Affairs, and United States Director of the Office of Homeland Security, Governor Tom Ridge. “Making the border work is our first and immediate priority, but we must also turn our thinking and creativity towards the future of the relationship,” Mr. d’Aquino said. He called for “a grand, made-in-Canada vision” to shape a 21st century partnership with the United States, with Canadians expressing “a clear, bold, confident affirmation of who we are and who we want to be in North America.”

The Council President said that Canadians must come to terms with the growing debate on monetary policy pointing out that the organization is on record over many years in its support of a floating exchange rate, an independent monetary policy and a hard currency. “I believe that in the foreseeable future, the country’s best interests will continue to be served by such a course,” he said.

The Council’s affirmed that its expanded activities in North America and globally will be matched by intensive work in the months ahead on domestic policies that affect Canadian competitiveness, including fiscal and monetary policy, regulatory and environmental issues and key public concerns such as health care.

“As we grapple with the short-term challenges of economic slowdown and terrorist threats, we must not lose sight of our goals as a country,” Mr. d’Aquino added. “The fiscal constraints facing governments today must not prevent Canada from making real progress in improving competitiveness, stimulating investment, jobs and economic growth and boosting productivity and incomes.”

The Council’s member chief executives head companies that administer in excess of $2.1 trillion in assets, have annual revenues of more than $500 billion and account for a significant majority of Canada’s private sector investment, exports, training and research and development.