Budget 2024

Tax and spend fiscal plan will inhibit growth

With the Omicron wave subsiding and the economy once again opening up, Canadians are looking to the federal government for hope and direction. In a pre-budget letter to Deputy Prime Minister and Finance Minister Chrystia Freeland, Goldy Hyder, President and CEO of the Business Council of Canada, urged the government to move forward with an economic strategy focussed on competitiveness and long-term growth.

The letter highlights five recommendations to unlock investments and ensure a better future for all Canadians:

  1. Create an improved environment for business investment 
  2. Strengthen and enhance Canada’s labour force 
  3. Develop an industrial strategy with a focus on innovation 
  4. Invest in strategies to help Canada meet its 2030 emissions reduction goals 
  5. Commit to fiscal sustainability 

Recognizing the essential role of private sector investment in creating jobs and economic opportunity, the letter concludes with a call for partnership. “Canada’s business leaders worked closely with you and other policymakers through the pandemic to keep Canadians safe and secure,” writes Mr. Hyder. “We are equally committed to collaborating with you now to bring about sustainable, long-term economic growth that benefits individuals and families in all regions and in all walks of life.”