(TRI-CITIES) April 17, 2024 — Canada's Deputy Prime Minister and Minister of Finance Chrystia Freeland unveiled the 2024 Federal Budget yesterday in Ottawa.
"We are pleased to see a number of items in this year's budget that the Tri-Cities Chamber and our counterparts across the country were advocating for, including the investment to address the housing crisis, streamlining trade across provinces, and advancing AI and cybersecurity, to name a few," said Leslie Courchesne, CEO, Tri-Cities Chamber of Commerce.
"We know this budget comes at a time of highly complex challenges for Canada, but we are increasingly concerned with the rising national debt and what that will mean for our local businesses and communities in the years ahead. Increasing the tax burden on business to fuel government spending will hinder the economic growth that our country so desperately needs," she added.
“Today’s budget contains few surprises. Most of the major new spending was announced by the government over the last few weeks, and the government’s projections for the deficit are largely in line with previous predictions. Instead of using a revenue windfall to reduce the deficit more quickly, the government chose to use it along with changes to the capital gains tax, to fund this new spending," said Perrin Beatty, President and CEO of the Canadian Chamber of Commerce.
"What’s still missing is a clear plan to promote productivity and restore economic growth in Canada. Canada continues to slip further behind our competitors in both of these categories.
"Our lagging productivity and stalled GDP growth means Canadians are becoming collectively poorer and working harder to just remain where they are today. Among the positive announcements in today’s Budget, we’re happy to see a focus on streamlining internal trade. Strengthening our internal trade could elevate GDP growth by up to 8% and fortify Canada’s economic foundation. It shouldn’t be easier to trade with Europe than it is within our own country," he said.
The Tri-Cities Chamber engaged in federal advocacy efforts with local Members of Parliament Ron McKinnon and Bonita Zarrillo, and through collaboration with the chambers of commerce and boards of trade network across the country, including attending the Canadian Chamber of Commerce AGM and Convention in the Fall to deliberate on federal policy resolutions.
Read more:
- 2024 Federal Budget Website
- Canadian Chamber of Commerce 2024 Federal Budget Insights
- Feb 21, 2024: Tri-Cities Chamber letter to MP Ron McKinnon
- Feb 21, 2024: Tri-Cities Chamber letter to MP Bonita Zarrillo
Related stories:
- Feb 21, 2024: Tri-Cities Chamber advocates for key priorities to help local business in 2024 Federal Budget
- Oct 24, 2023: Tri-Cities Chamber votes for strong policies to support business prosperity: Canadian Chamber Conference and AGM
Fore more information on the Tri-Cities Chamber advocacy work and policy resolutions, visit our advocacy page.
The Tri-Cities Chamber advocates on behalf of business to all levels of government. If your business is experiencing challenges related to government policy, programs, or regulations, contact Leslie Courchesne at ceo@tricitieschamber.com.
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Since 1971, the Tri-Cities Chamber of Commerce has been the largest business association serving Coquitlam, Port Coquitlam, Port Moody, Anmore, and Belcarra, now representing 1,300+ organizations from every sector. The Chamber works to foster economic development, provide connections and benefits, and influence public policy at all levels of government to ensure strong business and strong communities. The Tri-Cities Chamber is an active member of the BC and Canadian Chambers of Commerce.
For more information, contact:
Leslie Courchesne, Chief Executive Officer
Tri-Cities Chamber of Commerce
ceo@tricitieschamber.com
604.468.6870