Budget 2024

Tax and spend fiscal plan will inhibit growth

Statement by The Honourable John Manley, President and CEO of the Canadian Council of Chief Executives, on today’s announcement of the construction of a second bridge linking Detroit and Windsor:

“The trade relationship between Canada and the United States is unparalleled in the world. In 2010, bilateral trade reached $645 billion. Fully a quarter of that trade enters or leaves Canada at the Detroit-Windsor crossing. Commercial traffic in that corridor is expected to triple in the next three decades. Today’s announcement of the planned construction of a second bridge is a major step forward for our bilateral trading relationship, and will mean faster, more reliable border crossings. Today our supply chains are so highly integrated that it is more accurate to speak of products as being ‘Made in North America’ rather than simply Canada or the United States. This much-anticipated second bridge will help companies that rely on just-in-time production to keep costs down and improve their competitiveness. The construction of the new bridge and the business that will stem from it will support and create thousands of new jobs in both countries. Though a great deal of work remains before this goal is realized, today’s announcement by Prime Minister Harper and Michigan Governor Rick Snyder is highly encouraging.”

Founded in 1976, the CCCE is a non-partisan organization that engages in public policy research, consultation and advocacy. Its members lead companies that collectively administer $4.5 trillion in assets, employ more than 1.4 million men and women and are responsible for most of Canada’s private-sector exports, investment and training.