Press Release - March 29, 2012
Budget looks good for business says Halifax Chamber
FOR IMMEDIATE RELEASE
March 29, 2012 - Halifax, NS – The Halifax Chamber is optimistic about the strong focus on fiscal restraint and the future of the business community in the 2012 budget. “At first blush we are seeing things we like – a renewed commitment to balance the budget by 2015, investments in research and development, open trade, immigration, and strategic investments in developing our workforce,” says Chamber President and CEO, Valerie Payn. “But the devil’s in the details and we will be reviewing the budget in the days to come ensure it will help our businesses.”
“There seem to be clearly laid plans to support research and innovation, and the commercialization of that research,” says Payn. “We know that by providing support and funding and by encouraging collaboration our business community will thrive.”
The Federal Budget aims to streamline and improve the Scientific Research and Experimental Development tax incentive program, including shifting from indirect tax incentives to more direct support for innovative private sector businesses.
“We are also encouraged to see the plans to expand trade and open Canadian businesses to new markets,” says Payn. “ Our businesses need access to key export markets in order to take advantage of new opportunities.”
“We have long heard from our members and the business community the need for reform to our immigration system, especially given the challenges we will face in Nova Scotia due to our aging population and shrinking labour force,” says Payn. “The government’s plan to reform the immigration system will go a long way to help fill the gaps in the labour force.”
The budget has ‘common-sense changes’ to Employment Insurance to make it a more efficient program that promotes job creation and quickly connecting people to jobs.
“The commitment to invest in Canada’s workforce to ensure our workers are highly skilled, educated will help to further positioning our business community to compete globally,” adds Payn.
In the coming weeks the Chamber will be closely reviewing the Federal budget and looking forward to the budget details.
For more information contact:
Director of Marketing and Communications
Halifax Chamber of Commerce