Newsletter – April 2019
- Ontario GDP to increase between $4.8 and $7.1 billion
- Canadian GDP to increase between $5.2 and $7.8 billion
- Ontario labour to receive between $3.8 and $4.6 billion and Canadian workers located in other provinces to receive an additional $300 million
- The federal government to receive $144 million in excise tax and $1.2 billion in income tax
- The provincial government to receive $300 million in excise tax and $437 million in income tax
(OTTAWA) - March 15, 2019 - The Canadian Chamber of Commerce wrapped up its work as Canada's official representative at this year's B20 summit, where its input will be included in recommendations to G20 leaders ahead of their June meeting in Japan.
The priority areas for Canadian businesses advocated by the Canadian Chamber were the promotion of digital trade and e-commerce policies to help exporters, tackling unfair industrial subsidies that disadvantage Canadian companies, and reforming the World Trade Organization to preserve multilateral trade rules.
"While next week's Budget will articulate the government's domestic plan, we also need to get the international business environment working in our favour to ensure our companies can succeed by using platforms such as the B20," said the Hon. Perrin Beatty, P.C., O.C., President and CEO of the Canadian Chamber of Commerce.
The Canadian Chamber was joined on this visit by seven Canadian businesses from different sectors, including financial services, technology, and agriculture.
"For Canadian businesses operating abroad, opportunities such as the B20 are important for us to better understand first-hand what's happening in the local market, and what it means for our company," said Peter Wilkinson, Senior Vice President Regulatory & Public Affairs at Manulife and Chair of the Canadian Chamber's International Strategic Advisory Committee.
In addition to participating in the B20, the Canadian Chamber delegation also met with the Japanese Ministry of Foreign Affairs, Minister of Economy, Trade and Industry, the country's two national business federations, and the Embassy of Canada to discuss opportunities to expand bilateral trade under the Japan-Canada Chambers Council. The next Japan-Canada Chambers Council meeting will occur in early 2020.
"As the world's third-largest economy, Japan is vital for Canada's trade diversification efforts. The Comprehensive and Progressive Agreement is start, but there is still more work to ensure we fully maximize its opportunities," said Beatty.
The Canadian Chamber of Commerce is the vital connection between business and the federal government. It helps shape public policy and decision-making to the benefit of businesses, communities and families across Canada with a network of over 450 chambers of commerce and boards of trade, representing 200,000 businesses of all sizes in all sectors of the economy and in all regions. News and information are available at Chamber.ca or follow us on Twitter @CdnChamberofCom.