More must be done to help Ontario industry transition to net zero emissions, the Ontario Chamber of Commerce says. PHOTO by Pexels.
Several measures announced in Ontario’s budget are welcome news for the province’s business community, says Rocco Rossi, President and CEO of the Ontario Chamber of Commerce.
“We appreciate the government’s focus on fiscal responsibility while maintaining growth-enabling investments that support greater productivity,” Rossi says. “Particularly, we welcome the Government of Ontario’s continued efforts to address labour shortages, including in health care and the skilled trades, and support business investment in key sectors like manufacturing and mining.”
In particular, the Ontario Chamber of Commerce is supportive of the following measures of interest to manufacturing outlined in the provincial government’s 2023 budget, Building a Strong Ontario.
- Further steps to address labour market challenges by boosting immigration through the Ontario Immigrant Nominee Program and removing barriers to foreign credential recognition through the Ontario Bridge Training Program.
- Introduction of the Ontario made Manufacturing Investment Tax Credit to support local manufacturing companies in investing and expanding in Ontario, strengthening provincial supply chains.
The Ontario Chamber of Commerce also wants the provincial government to work on several more areas. Included below are the ones with relevance to manufacturing:
- Additional supports for small businesses through scaling digitization funding and training programs and improving access to private capital and credit.
- Climate adaptation and mitigation strategies with clear targets, measures to strengthen communities’ climate emergency preparedness, and support for businesses in the transition to net-zero.
- Removing interprovincial barriers to trade and labour mobility by signing mutual recognition agreements and/or unilaterally recognizing standards in other parts of the country, where appropriate.
- Taking further action on Ontario’s supply chain vulnerabilities through trade-enabling infrastructure investments and programs to help small and medium-sized enterprises adopt risk management and diversification strategies and supporting modernization.