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 the announcement of an agreement on trade facilitation during the Bali Ministerial Conference of the World Trade Organization (WTO):

“The WTO trade facilitation agreement will simplify customs procedures and reduce the costs of trade, which will in turn boost economic growth and create jobs. The agreement will improve the efficiency of global supply chains, and as a result, the benefits to the world economy could be as high as $1 trillion.

“After 12 years of negotiations, the Doha Round remains stalled while regional agreements are flourishing. Given that multilateral rules are the foundation for global trade, I remain very concerned at the lack of progress. This trade facilitation agreement is a promising first step, but more must be done at the WTO to improve the multilateral trade rules that underpin Canada’s commercial relations with the rest of the world.”

The CCCE is the senior voice of Canada’s business community, representing 150 chief executives and leading entrepreneurs in all sectors and regions of the country. Its member companies collectively employ 1.5 million Canadians and are responsible for most of Canada’s private sector investments, exports, workplace training and research and development.