Manufacturers to Finance Minister: urgent action needed

Canadian Manufacturers and Exporters (CME) has written to Minister of Finance Jim Flaherty ahead of the January 27 federal budget, urging him to consider the importance of the manufacturing and exporting sectors on the Canadian economy.

According to the group’s letter, CME’s first priority must be to address immediate liquidity proglems, and ensuring that credit continues to be made available to consumers and competitive businesses within Canada.

“If short-term liquidity challenges are not urgently addressed, other measures to stimulate economic growth and save jobs will be purely academic,” the letter stated.

The group also called on the government to counter recessionary pressures by investing in infrastructure projects that will benefit the economy’s future competitive potential.

Additionally, the group said, the minister’s third priority should be to implement policy measures that will improve long-term economic ccompetitiveness and prosperity by encouraging investments in wealth-creating assets.

“This is a critical goal that must be achieved in order to sustain high-paying, high-value jobs in Canada and avoid spiralling fiscal deficits,” said the letter.

The full letter can be accessed by clicking here.