Economy, Environment and Security: Taking the Canada-United States Relationship to a New Level
The visit of United States President Barack Obama to Ottawa on February 19, 2009, presents a vital opportunity to take Canada’s relationship with its closest friend, neighbour and ally to a new level. The global economic crisis makes it especially important to launch bilateral initiatives in three areas: the economy; energy and the environment; and defence and security. As leaders of the Canadian business community, we believe that President Obama and Prime Minister Stephen Harper should consider the following priorities: Work together to speed economic recovery. Governments in both countries will be more effective in driving a faster return to economic growth if they make sure that their stimulus measures are mutually reinforcing. Canada and the United States do not merely sell goods and services to each other; we make products together to sell to the world. Governments should do their best to ensure that measures to support industry are […]
Expectations for the International Climate Conference – Joint Statement by International Business Organizations
Expectations For The International Climate Conference – Joint Statement By International Business Organizations
Background Notes: Three Decades of Private-Sector Leadership Building Stronger Ties Between Canada and the United States
The Canadian Council of Chief Executives (CCCE) is the senior voice of Canada’s business community, representing 150 chief executives and leading entrepreneurs from all major sectors and regions of the country. For more than 30 years, it has been the private-sector champion of closer economic and security cooperation between Canada and the United States. In the early 1980s, the CCCE became convinced that Canada should pursue aggressively a broad trade liberalization agreement with the United States. In March 1983, at a private meeting in Ottawa organized by CCCE Chief Executive Thomas d’Aquino, Council members presented their ideas to then-Vice President George H. W. Bush. At the same time, the CCCE formed a Task Force on Industrial Development and International Trade that launched an 18-month program of research and consultation across Canada and the United States. In September 1984, the Task Force published a major policy paper recommending that the two […]
Letter To U.S. House/Senate Leaders Regarding Buy American Provisions by International Business Leaders
Letter To U.S. House/Senate Leaders Regarding Buy American Provisions By International Business Leaders
The State of the Global Economy – Cooperation as the Key to Recovery
Premier Campbell, Minister Hansen, fellow panelist Elyse Allan, ladies and gentlemen. It is a privilege to return to my native province and to share some thoughts with you on the state of the global economy. This is a humbling challenge, for a definitive assessment in the face of the current uncertainty and complexity is beyond the capabilities of a mere mortal! I will focus my remarks on three subjects: first, the state of growth and industrial production in major economies; second, the connection between the economic malaise and the still-unresolved financial crisis; and third, the growing danger of protectionism. Simply put, growth prospects worldwide are dismal and industrial production is falling like a stone. Overall GDP growth is expected to drop to 1/2 percent or less in 2009. We should not rule out the possibility of an outright contraction. Economic data in recent days show that in the closing months […]
The Folly of Protectionism
(Published in the Financial Post, January 31, 2009.) By Thomas d’Aquino Eighty years ago, the United States suffered its most devastating financial crisis of the 20th century. For many Americans, the preceding decade was a period of prosperity and excess. Real estate prices soared but turned downward after 1925, squeezing speculators and hard-working families alike. Then came the stock market crash of October, 1929, which triggered bank failures and a serious credit crunch. Overnight, the economy ground to a halt and the lines of the unemployed grew longer. Sound familiar? Today, the United States and much of the rest of the world are at a similar point in the economic cycle. Is the current global financial crisis fated to give way to another decade of darkness — another Great Depression? It might, if we fail to heed the lessons of history. Although the 1929 crash dealt a severe blow to […]
Federal Budget Takes Important Measures to Encourage Lending and Business Investment
The 2009 federal budget relies on borrowed money to pay for a wide variety of spending and tax measures to provide short-term economic stimulus, but its most important provisions will not affect the budget balance, says the Canadian Council of Chief Executives (CCCE). “The $200 billion Extraordinary Financing Framework announced in the budget will enable easier and cheaper access to loans for families and enterprises alike,” said CCCE Chief Executive and President Thomas d’Aquino. “This will boost confidence, encourage consumption and stimulate business investment without adding a penny to the deficit.” In a December 2008 statement, What Canada Needs Now to Respond to the Economic Crisis, the CCCE said keeping credit flowing to consumers and businesses should be the government’s top priority. The financing framework announced in the budget enables the government to buy $12 billion in securities backed by assets such as car loans as well as another $50 billion […]
Chief Executive and President of the Canadian Council of Chief Executives Announces Succession Plans
Thomas d’Aquino, the Chief Executive and President of the Canadian Council of Chief Executives (CCCE) announced today his intention to pass the torch to his successor in January 2010. Mr. d’Aquino has led the Council (formerly known as the Business Council on National Issues) since 1981 and for two years prior to that served as the Council’s legal advisor during its formative stage. “I have had the extraordinary privilege of working with over 1000 chief executives and leading entrepreneurs during the past three decades”, Mr. d’Aquino said. “Our journey together has been marked by intellectual and entrepreneurial achievement and a passionate commitment to the idea that business leadership should contribute in a significant way to building a more prosperous and stronger Canada.” Mr. d’Aquino advised the Council’s Board of Directors of his decision last August and Council Chairman, Gordon Nixon, formally notified the Council membership of Mr. d’Aquino’s intentions at the CCCE’s […]
Business Leaders Welcome New Era of Cooperation Between Canada and India
The Canadian Council of Chief Executives (CCCE) pledged its strong support for the decision by the governments of Canada and India to launch exploratory talks toward a comprehensive economic partnership agreement. “The time has come for a much stronger bilateral partnership between our two countries,” said CCCE Chief Executive and President Thomas d’Aquino. “Canada and India share a common language and a commitment to democratic principles. Both of our countries have benefited enormously from the globalization of trade and investment. Building on that success, we look forward to a new era of deeper cooperation and enhanced prosperity.” The CCCE is Canada’s premier business association, composed of 150 chief executives and leading entrepreneurs from all major sectors and regions of the country. Beginning in 2005, the CCCE and its Indian counterpart, the Confederation of Indian Industry (CII), have worked closely to create the foundation for stronger economic ties. Their efforts culminated […]
CEO Council Chief Executive Outlines Key Short-Term and Long-Term Priorities for Canada
Addressing the New Year Members’ Meeting of the Canadian Council of Chief Executives (CCCE) in Toronto, Council Chief Executive and President Thomas d’Aquino outlined top priorities that he said should be front of mind for government and business leaders alike as Canadians confront the difficult and uncertain year ahead. “Countering the recession is our number one priority,” Mr. d’Aquino said. “Events beyond our country’s control have rocked global financial markets, damaging consumer and business confidence around the world. Canada cannot escape the consequences: our economy must deal with the daunting challenges as our families and communities face real pain. No matter what we do, the economic situation will get worse before it gets better. Accurate predictions about the timing of the recovery are impossible to make. Canada is part of an economic universe that for the time being is without a compass.” Given the sober economic realities, Mr. d’Aquino said Canada more […]
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