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News Release: Business Council Supports Plan to Balance Federal Budget and Focus on Skills Training
For Immediate Release
March 21, 2013 (Vancouver, BC) —The Business Council of British Columbia welcomes today’s Federal Budget with its focus on skills training, infrastructure investment, and measures to strengthen the competitiveness of the manufacturing sector in BC and across the country.
“Today’s budget strikes the appropriate balance between fiscal stability and meeting the Federal government’s commitment to eliminate the deficit by mid-decade. We also endorse the new initiatives intended to expand access to skill training and apprenticeships,” said Greg D’Avignon, President and CEO of the Business Council of British Columbia. “Balancing the budget in a timely manner is important to Canada’s competitive position. We believe that the government’s approach of protecting transfers to individuals and provinces, while looking for additional savings in its own operating expenses, makes sense.”
“This Budget maintains Canada’s competitive overall corporate and personal tax environment amid still-challenging economic circumstances. The extension of accelerated capital cost allowances for new investment in machinery and equipment will stimulate productivity and help Canadian manufacturers to succeed in a highly competitive global economy,” said Jock Finlayson, Executive Vice President at the Business Council. “At the same time, continuing with the hiring tax credit for small business will support job creation.”
The Business Council is pleased to see the government unveil Build Canada, a renewed infrastructure fund that will invest $47 billion over ten years in local and economic infrastructure projects to benefit communities and First Nations.
“Investment in physical infrastructure assets is positive for the economy and also recognizes that much existing infrastructure is nearing the end of its life,” noted Mr. D’Avignon.
Budget 2013 also re-iterates the government’s commitment to pursue new commercial agreements with key Canadian trading partners.
“The Business Council applauds the government’s efforts to conclude trade agreements with the European Union, India and Japan. We also believe Canada must be part of the evolving Trans-Pacific Partnership architecture,” stated Mr. Finlayson
The Business Council of British Columbia, now in its 46th year as the premier business organization in BC, represents 260 leading companies and enterprises in every key sector of the economy. Our membership, found throughout every region of BC, represents 25 percent of all jobs in the province.