Focused and Realistic Throne Speech Agenda Will Help Build Competitive Economy, Business Leaders Say

April 4, 2006

The short-term agenda unveiled by the new Conservative government in its Speech from the Throne is focused and realistic, and sets the stage for more comprehensive efforts to strengthen Canada’s competitiveness and prosperity, says the Canadian Council of Chief Executives (CCCE).

“The core promises made by the Conservative Party during the election campaign, including fiscal responsibility, lower taxes, more innovative delivery of public services and more honest and effective government, will by themselves contribute significantly to a stronger economy,” said CCCE Chief Executive and President Thomas d’Aquino.

“At the same time, Prime Minister Stephen Harper has recognized that Canada faces very real challenges within a global economy that is being transformed by the emergence of new giants such as China and India. His initial priorities are clear, and he has sent an unmistakeable signal that he is committed to continuing efforts to make Canada’s economy more competitive and more productive.”

The CCCE, a non-partisan and not-for-profit organization composed of the chief executive officers of 150 leading Canadian enterprises, recently published a major paper, From Bronze to Gold: A Blueprint for Canadian Leadership in a Transforming World.  The paper included ten specific recommendations for strengthening Canadian competitiveness that CCCE members believe can be achieved even in a minority Parliament.

“As business leaders, we are committed to continuing to work closely both with the government and with opposition parties to build consensus in support of measures that will help our country to compete more effectively for investment and to foster more and better jobs for Canadians,” Mr. d’Aquino said.

One of the most complex issues that must be addressed is the reform of fiscal arrangements between the federal and provincial governments, in order to ensure that all governments have the resources they need to meet their responsibilities.

“The time has come to end the parade of special deals that has led to an explosion of federal spending in areas of provincial jurisdiction, and to consider bold new ways of improving accountability and making the Canadian federation work more effectively,” Mr. d’Aquino said.

The CCCE also welcomed the government’s vow to reinvigorate Canada’s role in the world, and in particular to strengthen its multilateral and bilateral relationships, starting with the United States.

“Greater economic and security cooperation with Canada’s closest ally and largest trading partner is one of the most effective ways to enhance our competitiveness globally,” Mr. d’Aquino said. “If our country does well within North America, we certainly will do well in the world.”

The CCCE’s member chief executives lead companies that collectively administer close to $3 trillion in assets, have annual revenues of more than $650 billion, and are responsible for the vast majority of Canada’s exports, investment, research and development, and training.

In addition to Mr. d’Aquino, the members of the CCCE’s Executive Committee are: Chairman Richard L. George, President and Chief Executive Officer of Suncor Energy Inc.; Honorary Chairman A. Charles Baillie; and Vice-Chairmen Dominic D’Alessandro, Paul Desmarais, Jr., Jacques Lamarre, Gordon M. Nixon and Hartley T. Richardson, the chief executives respectively of Manulife Financial, Power Corporation of Canada, SNC-Lavalin Group Inc., Royal Bank of Canada and James Richardson & Sons, Limited.