CME releases statement surrounding throne speech from Liberal government
by CM Staff
CME calls on the federal government to attract at least two per cent of the annual manufacturing investment made in the OECD, or $50 billion a year, over the next decade.
OTTAWA — Ahead of Nov. 23’s speech from the throne, Canadian Manufacturers & Exporters (CME) is calling on the federal government to adopt a national industrial strategy and commit to taking concrete actions to grow manufacturing and Canadian exports.
“Canadian manufacturers proved during the COVID-19 pandemic the critical importance of having a vibrant domestic manufacturing industry. Manufacturing is a key driver of economic growth, represents two-thirds of our value-added exports, and directly employs millions of Canadians in high-paying jobs in every region of the country. A national industrial strategy that promotes new investments, workers and innovation, would support that and secure the future of manufacturing and Canadian prosperity,” said Dennis Darby, CME President and CEO.
CME calls on a strategy that should focus on four priorities:
- Attract the workers we need in Canada to support our industries;
- Stimulate investment in innovation and advanced technologies;
- Increase Canadian exports; and
- Adopt an industrial net-zero strategy.
Supply chains disruptions far from over
As mentioned by the prime minister, supply chains around the world are crunched because of COVID-19 and people and businesses are wondering how they’re going to acquire things they need. The recent flooding situation in British Columbia adds to the list of recent disruptions affecting the Canadian supply chain and demonstrates, once again, how fragile it is.
“The flooding and tragic loss of lives in British Columbia underscores the need for high-quality infrastructure. Given all the disruptions over the last few months, we ask the federal government to also invest in expanding our domestic manufacturing capacity,” said Darby.