Chamber President Sees Lack Of Action In Federal Budget
The President and CEO of the Windsor-Essex Regional Chamber of Commerce is criticizing a lack of response from the Liberal Government to the United States lowering its corporate tax rates.
Matt Marchand says Tuesday's budget was the perfect opportunity to address the issue which has given the U.S. a major advantage in the business world.
Marchand says the feds need to take action now.
"We've encouraged and we passed a resolution on this that they need to act in a timely way to combat, basically, a government in the United States which is lowering taxes and lowering regulations and doing everything they can to drive business into the U.S."
Marchand says the status quo isn't going to work.
"We really would like to see a more aggressive stance driving our competitive position here. On the Canadian side of the border we've got a lot of costs and regulations and now we've lost our big advantage which was far lower corporate tax rates."
Marchand says Canada needs every advantage it can get.
"We're going to continue to push on that. It's very important, particularly in the Windsor-Essex area, we need as many advantages as we can to compete against a government in the United States who has been very aggressive in trying to drive investment into the U.S. We have higher electricity prices, we have higher regulatory costs. We used to have a better tax rate, now we don't."
Marchand adds, there were a couple of positives coming out of Tuesday's budget that could have an impact locally including $1.4-billion for women's entrepreneurship as well as additional funding for youth employment.