Manufacturing Coalition urges action
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The Canadian Manufacturing Coalition (CMC) has urged Canada's federal finance minister to take immediate action to ...
The Canadian Manufacturing Coalition (CMC) has urged Canada’s federal finance minister to take immediate action to improve the economic and operating environment of the country’s manufacturing sector.
In a letter to the Hon. Jim Flaherty dated January 23, the CMC noted that the rise in the Canadian dollar, the difficulties facing the US economy, and increasing global competition are “putting our sector’s survival at risk”.
Key solutions outlined in the CMC’s letter include extending the two-year write-off for investments in manufacturing and processing machinery and equipment for at least another five years; improving the Scientific Research and Experimental Development tax credit system to make the tax credits refundable and improve the consistency of SR&ED administration; and introducing an Employers’ Training Tax Credit, creditable against Employment Insurance premiums, to encourage businesses to increase investments in maintaining and upgrading the skills and capabilities of their workforce.
Based in Ottawa, the CMC is made up of representatives of Canada’s leading value-added industries. Representatives include Serge Lavoie, president and CEO of the Canadian Plastics Industry Association (CPIA); Dan Moynahan, president of the Canadian Association of Moldmakers; and Gerry Fedchun, president of the Automotive Parts Manufacturers’ Association.
The CMC’s letter can be accessed via the CPIA’s website, at http://www.cpia.ca/files/files/071129PressRealeaseeFinance.pdf