CEO Council Applauds Canada-Colombia Free Trade, Labour and Environment Agreements
The successful conclusion of Canada’s free trade, labour and environment negotiations with Colombia marks an important step in forging a stronger relationship between the two countries, says the Canadian Council of Chief Executives (CCCE). “The result includes an ambitious, comprehensive free trade agreement that will enhance Canada’s access to Colombia’s dynamic and growing market, creating new opportunities for Canadian know-how and ingenuity,” CCCE Chief Executive and President Thomas d’Aquino said. “It also will level the playing field for Canadian workers, farmers and businesses.” Mr. d’Aquino’s comments followed Saturday’s announcement by The Honourable David Emerson, Minister of Foreign Affairs and International Trade, that Canada and Colombia had concluded negotiations that began in July 2007. “These initiatives will contribute to economic growth and poverty-reduction in Colombia,” said Mr. d’Aquino. “It is in Canada’s interest to engage with countries such as Colombia that are committed to democracy, the rule of law, peace and greater security.” […]
Thomas d’Aquino Defends the NAFTA and Calls for Stepped-up Efforts to Enhance North American Competitiveness
Extolling the importance and the achievements of the North American Free Trade Agreement (NAFTA), the Chief Executive of the Canadian Council of Chief Executives, Thomas d’Aquino, said in an Ottawa address today that the NAFTA has had a profoundly positive impact on North American trade and investment flows, and has been a powerful catalyst in enhancing the competitiveness of the continent. “By reducing barriers to trade, spurring investment, accelerating cross-border business cooperation and efficiencies and advancing innovation and better-paying jobs, the NAFTA has delivered concrete results,” Mr. d’Aquino said. Since the NAFTA went into effect in 1994, trilateral trade among the three partners has tripled, reaching about $1 trillion annually. The NAFTA has fostered economic growth by encouraging competition in domestic markets and promoting investment from both domestic and foreign sources. “But despite the hard evidence of the NAFTA’s successes, the pact is being subjected to vitriolic attacks, especially in the United States, […]
Taxation, Education and Immigration: Enhancing Canada’s Competitive Advantage
Thank you for the opportunity to appear this afternoon to discuss the provisions of Bill C-50. The views of the Canadian Council of Chief Executives on Budget 2008 are a matter of record. We believe that it builds on the important tax cuts announced in the October 2007 Economic Statement by adding several measures that will have a positive impact on Canada’s competitiveness at relatively low cost to the treasury. I will offer some thoughts on three specific provisions of this bill: those affecting Employment Insurance, student aid and immigration. But first I would like to highlight the results of some recent research that we commissioned on corporate taxation. Tax policy plays a central role in enabling Canadian communities to attract business investment that creates well-paid and highly skilled jobs and is especially relevant to large companies doing business internationally. Last year, we agreed to work with PricewaterhouseCoopers (PwC) to […]
CCCE Chief Executive Outlines the Case for a Canada-Colombia Free Trade Agreement
Good afternoon ladies and gentlemen. I will present a brief introductory statement and then my colleague Sam Boutziouvis and I will be pleased to answer any questions. As representatives of the Canadian Council of Chief Executives (CCCE), we are pleased to be here today to discuss the proposed Canada-Colombia Free Trade Agreement. Over the next ten minutes I intend to offer a compelling case for the Government’s current negotiations toward a Free Trade Agreement with Colombia and to address a number of human rights, labour and environmental concerns. First, an ambitious, comprehensive Canada-Colombia Free Trade Agreement would enhance access to a new and growing export market. With a population of more than 45 million people and strong economic growth, Colombia represents an important market for Canadian products and services. The potential of Colombia has not gone unnoticed by Canadian companies. More than 1,000 Canadian enterprises are engaged in commerce with […]
Toward Full Reform of Employment Insurance
Thank you for the opportunity to appear before this Committee to address proposed changes to Canada’s Employment Insurance system, and in particular the establishment of the Canada Employment Insurance Financing Board. The Canadian Council of Chief Executives has for many years argued in favour of comprehensive reform of the Employment Insurance system. In particular, we have said that the system should be managed by an independent body, with premiums flowing into and benefits flowing out of a segregated account. We have said that premiums should be set at a level designed to break even over the course of a business cycle. And we have suggested that the mandate of the Employment Insurance system should be narrowed to focus on protecting Canadian workers against the specific risk of temporary job loss. The changes being proposed today take an important first step in the right direction, by setting up a Crown corporation […]
CCCE Chief Executive Outlines a Strategy for Deeper Ties Between Canada and the European Union
The head of the Canadian Council of Chief Executives today urged Prime Minister Harper and European Union (EU) leaders to embrace a dynamic 21st century vision of Canada-EU relations focussed on a revitalized economic partnership. In an address to a Public Policy Forum conference in Ottawa, Thomas d’Aquino said that, “Canada and the European Union have for too long ignored the natural forces that make for a closer and more productive transatlantic relationship.” “While trade and investment between Canada and the European Union continue to grow driven by aggressive private sector actors, Ottawa and Brussels have not kept pace,” said Mr. d’Aquino. “The economic relationship has too few political champions and lacks an institutional framework that would accelerate growth and open up new opportunities,” stated the CCCE Chief Executive. The 27 Member States of the European Union collectively rank as Canada’s second largest trading partner and as the second most important source […]
CCCE Chief Executive Emphasizes the Importance of the Canada-Hong Kong Partnership
“Canada and Hong Kong are natural partners and the synergies between the two need to be more vigorously developed,” said Thomas d’Aquino, Chief Executive and President of the Canadian Council of Chief Executives. In a keynote address to the Hong Kong Canada Business Association Parliamentary Breakfast Seminar sponsored by the Hong Kong Economic Trade Office, Mr. d’Aquino reminded his audience that “few bilateral relationships in the world compare as favourably as those between Canadians and the people of Hong Kong. Shared citizenship, close family ties, business investment, educational cooperation and a strong commitment to good governance and the rule of law are the cornerstones of what unites us.” Mr. d’Aquino praised the economic performance of the Hong Kong Special Administrative Region of the People’s Republic of China which in 2007 saw its economy grow by 6.3 percent, its exports rise by 7.9 percent, and its domestic private consumption by 7.8 percent. “Hong […]
Canadian Business Tax System Complex and Costly, Study Finds
Companies Pay Or Collect 49 Different Taxes, More Than Twice As Many As In The U.K. Canada’s business tax system is complex and costly, challenging the country’s ability to compete internationally, a new study by PricewaterhouseCoopers (PwC) shows. The 2007 Total Tax Contribution survey is based on a framework developed by PwC in the United Kingdom and encompasses all taxes paid by a company as well as all taxes collected by the company from its employees and customers on behalf of governments. A company’s total tax contribution is therefore a measure of its total impact on government revenues. The survey found that companies in Canada are subject to 49 different taxes and 18 other payments to governments at the federal, provincial and municipal level. Adding to the complexity of Canada’s tax system, companies are subject to more than 200 possible “taxing points” — the number of tax obligations a business […]
Advancing the Competitiveness Agenda
Thank you for the opportunity to appear before the Committee this afternoon to speak to Bill C-50. The views of the Canadian Council of Chief Executives on Budget 2008 are a matter of record. We believe that it builds on the important tax cuts announced in the October 2007 Economic Statement by adding several measures that will have a positive impact on Canada’s competitiveness at relatively low cost to the treasury. I would note in particular the creation of the Tax-Free Savings Account, which gives families a powerful and flexible tool to help them save for everything from retirement and education to a new home. I have just returned from Calgary, where our members met individually with the Premiers of Manitoba, Saskatchewan, Alberta and British Columbia and also held a roundtable discussion on the state of the economy. Clearly, the economy of Western Canada is firing on all cylinders, but […]
Total Tax Contribution – Canada’s Tax Regime: Complexity and Competitiveness
Total Tax Contribution – Canada’s Tax Regime: Complexity And Competitiveness
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