Report advises manufacturers how to revive economy amid recovery

PHOTO: Coalition of Concerned Manufacturers and Businesses of Canada

SCARBOROUGH Ont. — On June 9 the Coalition of Concerned Manufacturers and Businesses of Canada released a report – “Making it Canada’s Moment” – aimed at reviving the economy and the manufacturing sector coast-to-coast.

The report contains a series of recommendations to kick-start economic growth and create jobs in the manufacturing and energy sectors.

“This can be Canada’s moment,” said Coalition Founder and President Jocelyn Bamford in a prepared statement. “Our manufacturing and energy sectors are the key to our country’s economic recovery; when we support both, they will deliver.”

Key recommendations include:

• Invest in key public infrastructure projects that will expand our economic capacity and export potential.
• Key ‘gate way’ projects such as improvements to rail, road, bridges, ports and other such initiatives that enable Canadian companies to get their products to export markets.

Canada has reserves of oil and natural gas, two energy solutions that will continue to be in high demand in North America and on world markets.

• Declare the orderly development of Canada’s energy sector is in the national interest from an economic development, energy security and environmental perspective.
• Enable pipelines by amending legislation that stands in the way to getting them built (Bill C-69).
• Canada’s regulatory environment will continue to be a challenge to our economy as we enter into the recovery stage.
• We need to innovate and establish a reasonable and streamlined approach to project timelines and permits.
• Allow full tax credits when making a capital investment in new equipment, machinery and technology applications.

“When considering how Canada can best recover from COVID-19, some groups have proposed a so called ‘resilient recovery’ with an exclusive focus on ‘green’ energy,” CCMBC Board member Catherine Swift said in a statement. “Although this will be part of the solution, neglecting the oil and gas sectors and related manufacturing, which contributes so significantly to Canada’s economy, will only ensure that our recovery is much weaker and prolonged than necessary.”