November 3rd fiscal update must prioritize energy infrastructure, economic immigration, and fiscal prudence

When the federal government issues its fall fiscal update next week, Canada’s business leaders will be looking for measures that address both immediate economic challenges and the country’s future prosperity.

In a recent letter to Deputy Prime Minister and Finance Minister Chrystia Freeland, Goldy Hyder, President and CEO of the Business Council of Canada, urged the federal government to use the update as an opportunity to prioritize three areas for action:

  • Energy and resources – Outline regulatory “rules of the road” and incentives to fast-track projects and infrastructure that will get energy, critical minerals, and other resources to global markets and international allies.
  • Immigration – Support increased economic immigration including through the modernization of IT systems, opening of new processing centres, and increasing the ranks of border agents and settlement services personnel.
  • Fiscal prudence – Resist significant new spending to avoid adding more inflationary pressure on prices, and focus on reducing the deficit.

Recognizing the essential role of private sector investment in creating jobs and economic opportunity as Canada charts a path toward a net-zero economy, the letter concludes with a call for partnership.  “Members of the Business Council are committed to working with you and all Parliamentarians in building a better future for all Canadians,” writes Mr. Hyder.