Coalition for a Better Future welcomes investment measures in FES but calls for urgency to implement a long-term plan in response to U.S. tariff threats
OTTAWA—DECEMBER 18, 2024—The Coalition for a Better Future recognizes the Government of Canada's attempts to boost the struggling economy through its 2024 Fall Economic Statement (FES). However, urgent action is necessary to address the serious challenges posed by the proposed U.S. tariffs and competitive pressures that threaten Canada's long term economic growth.
The FES includes substantive measures aimed at supporting investment and productivity, but political drama has overshadowed these crucial initiatives. As a Coalition, we evaluate our advancements based on a Scorecard focused on three main themes: living better, growing sustainably and winning globally. With these pillars in mind, the Coalition welcomes the $17.4 billion investment to extend the Accelerated Investment Incentive, which will allow companies to support the purchase of capital assets. The additional $1.1 billion allocated to boose the Scientific Research and Experimental Development (SR&ED) program is also a positive step towards encouraging Canada’s lagging business R&D spending.
“We are pleased to see measures to encourage private sector investments like the extension of the Accelerated Investment Incentive, which is critical for maintaining Canada’s investment competitiveness,” said Coalition co-chair Honourable Anne McLellan. “However, we need to quickly implement programs and further reduce regulatory barriers that hinder growth and investment. This is essential to safeguard Canadian jobs and ensure the resiliency of Canada’s economy.”
“Canada is at a turning point. Output per capita is declining, labour productivity has worsened, and many Canadians—particularly young people, immigrants, and racialized communities—are struggling more than ever,” said Coalition co-chair Lisa Raitt. “In light of tariff threats by the United States that will hinder our prosperity, it is essential for the government to take decisive actions to boost economic productivity and ensure that Canada remains competitive on a global scale. While we appreciate these initiatives aimed at improving productivity, we look forward to assessing their impact as we monitor Canada’s economic success.”
The Coalition represents a diverse and growing community of like-minded organizations in the private and not-for-profit sectors, united in our belief that economic growth is necessary for job creation, rising incomes, a cleaner environment and a better quality of life.
For more information or to set up an interview, please contact:
Tina Romito
Director of Operations, Coalition for a Better Future
operations@canadacoalition.ca
