Federal Budget 2021: Manufacturers applaud, yet hoped for more
by CM Staff
CME says the government missed an opportunity to address fundamental issues plaguing the long-term health and growth of the manufacturing sector
OTTAWA — Canadian Manufacturers & Exporters (CME) commended the federal government for recognizing the importance of the manufacturing sector and addressing many challenges faced by Canadian manufacturers in the budget.
However, CME says the government missed an opportunity to address fundamental issues plaguing the long-term health and growth of the manufacturing sector. Longstanding requests from CME to drive technology investment and scale-up and commercialization through a comprehensive, targeted manufacturing strategy are largely missing.
“As we inch closer to the end of the worst parts of the pandemic, governments around the world are investing massively in the manufacturing sector,” said Dennis Darby, President and CEO of CME in a statement. “Today, the federal government missed an opportunity to have a more comprehensive approach which would have helped to make our manufacturers more competitive. A lot of the measures announced today are positive and will help, but there is not enough in there to move the needle and drive long-term growth.”
The lack of a comprehensive manufacturing strategy as recommended by the Government’s own Industry Strategy Council in today’s budget is placing our sector in a difficult situation. “We look forward to working with the government in the days ahead, but there is still a lot of work left to be done so we get this right. Now is not the time for words, but it’s the time to deliver.” added Darby.