This statement is attributable to Deborah Yedlin, President a& CEO at the Calgary Chamber of Commerce
“On behalf of the Calgary business community, the Calgary Chamber welcomes the Government of Canada’s new Productivity Mega Deduction, giving Canada the lowest effective tax rate on new investment in the world.
“Canada’s economic transformation requires an approach that signals the government is willing to create the conditions for a super-cycle of Canadian investment and meet the government’s goal of bringing in $1 trillion of investment capital. Improving the economics of investing in Canada is critical to converting ambition into major projects, jobs and economic growth.
“This initiative, along with yesterday’s announcement of an Advance Income Tax Ruling process investment of $1 billion or more, will help reduce risk and provide greater clarity and certainty for investors before capital is committed. Together, these measures lower barriers to investment and provide greater certainty that businesses can achieve competitive returns on capital invested in Canada.
“As recently highlighted by RBC in its Thought Leadership Report, Canada has the opportunity to unlock $1 trillion in capital investment and increase per capita GDP by 10-15 per cent, but doing so requires bold moves to ensure risk-adjusted returns are competitive with other jurisdictions. Today’s announcement will prove transformational for the Canadian economy and is a signal to the world that Canada is serious about competing for capital, attracting investment and strengthening long-term economic growth.”
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About the Calgary Chamber of Commerce
The Calgary Chamber exists to empower our business community to advance a prosperous Calgary and Canada. As the convenor and catalyst for a vibrant, inclusive and prosperous business community, the Chamber works to build strength and resilience among its members and position Calgary as a magnet for talent, diversification and opportunity. As an independent, non-profit, non-partisan organization founded in 1891, we build on our history to serve and advocate for businesses of all sizes, in all sectors across the city.
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