Canada is best place to invest

February 23, 2011

Mississauga, ONT – Recently, the Honourable Ted Menzies, Minister of State (Finance), highlighted the economic growth and jobs created by your Government’s low-tax plan. The Government emphasized its support for keeping taxes low and freer trade, which open markets and attract investment.

Speaking at Multiurethanes in Mississauga, Minister Menzies said, “The economy remains our Government’s number one priority. We are keeping taxes low for job creators to grow our economy and create jobs for Canadian workers.”

The Canadian Manufacturers and Exporters say that lower business taxes mean more jobs and increase the per capita income of Canadian workers.

“Over the next couple of years, the jobs created as a result of federal and provincial tax cuts will lead to further investment in new products, new technologies, research and development, machinery and equipment,” said Jayson Myers, President and CEO of the Canadian Manufacturers and Exporters.

Minister Menzies said, “Through our consultations with Canadians across the country, we have repeatedly heard that if we want more jobs, higher wages and an improved standard of living, Canada needs to be the most attractive place for job creators to do business and invest.” Menzies continued, “We are ensuring that hard-working Canadian entrepreneurs have greater opportunities to grow their businesses by reinvesting in them. That’s helping businesses create more and better-paying jobs, which is good news for the economy and good news for Canadian families,”

Your Government is highlighting the advantages of Canada’s open markets and low taxes for job creators, which encourage global business investment. These advantages include:

• the lowest overall tax rate on new business investment among the major developed economies (G-7);
• the lowest debt and deficit of those major economies;
• the world’s soundest banking system, according to the World Economic Forum; among the fastest economic growth in the G-7, which is projected to continue into the future, according to the International Monetary Fund;
• the most skilled workforce, with the highest proportion of post-secondary graduates in the Organisation for Economic Co-operation and Development;
• eliminating tariffs on manufacturing inputs and equipment, which will make Canada the only tariff-free zone for industrial manufacturers in the G-20 by 2015;
• the most generous research and development tax incentives in the industrialized world; and
• an outstanding quality of life, with safe streets, a high standard of living, universal health care, a sound educational system and a beautiful natural environment.