Put Canadians First

The Board of the Canadian Chamber of Commerce is dismayed with actions taken by all federal political parties. Following consultation with members of our network from across Canada, the Canadian Chamber of Commerce calls upon all political parties to focus on the public interest above all other considerations. With so much at stake, all members of Parliament must set partisan maneuvering aside and focus instead on measures to bolster investor and consumer confidence and restore economic growth.

The current economic crisis is by far the most serious in over half a century. It threatens the survival of thousands of Canadian businesses and the well-being of millions of families. According to the Minister of Finance, Canada’s economy is now in recession, even if the likely severity and duration remain uncertain.

The government must prepare a comprehensive strategy to be presented to the public at the earliest appropriate opportunity. Specifically, we request the government of Canada, with the support of all parties, to commit to the following next steps: • Within the coming weeks, the government must undertake immediate and intensive consultations with the business community, other levels of government, and additional key stakeholders to develop a coordinated response to the economic crisis. Among other elements, these consultations should identify priority infrastructure projects and produce a strategy by governments to accelerate their implementation. • The strategy must be based on realistic assumptions about the expected performance of the Canadian economy, provide a level of stimulus appropriate to fostering economic growth (in the range of 0.5 to 1.0 percent of GDP), and contain a clear plan to avoid a return to long-term structural deficits. • The identification of sectors where urgent action may need to be taken and the development of criteria for assessing requests for assistance. Assistance provided should be timely, targeted and temporary. • In concert with the provinces and territories, the implementation of an accelerated timetable to eliminate internal barriers to trade and mobility.

In addition we call upon the government to continue to work in concert with other countries to restore global economic growth and we urge the Bank of Canada to ensure liquidity and the availability of credit for Canadian businesses and consumers.

As our political leaders prepare a comprehensive plan to restore our economic health, the Canadian Chamber of Commerce offers the assistance of the Canadian Chamber network representing 175,000 businesses from every region and every sector in Canada.

The Board of Directors of the Canadian Chamber of Commerce, in consultation with local chambers from across Canada, has issued principles that respond to the critical factors fuelling the financial crisis, such as the access to credit, stock market turbulence and currency fluctuations. “I fully support these principles, and encourage MPs, in the best interest of Cornwall and of all Canadians, to focus their efforts in a non-partisan manner towards advancing these principles,” says Debbie Rioux, president of Cornwall & Area Chamber of Commerce.

The current financial crisis is taking a severe toll on the residents of Cornwall and area and on all Canadians. In this regard, the Cornwall & Area Chamber of Commerce and its members find it extremely disconcerting that the discourse since the tabling of the Economic Update has been almost exclusively focused on political gains and posturing. “It is time to stop playing political games and concentrate on measures to immediately bolster investor and consumer confidence and restore economic growth. Canadians deserve no less from their elected officials,” concluded Debbie Rioux.