Today, the Oakville Chamber of Commerce, in partnership with the Ontario Chamber of Commerce, formally released its 2017 pre-budget submission containing recommendations to the Ontario legislature as it looks to begin its spring 2017 legislative session. The submission outlines four key budget priorities and thirteen specific recommendations for Queen’s Park to adopt in order to restore fiscal balance and spur economic growth. Specifically, the Oakville Chamber of Commerce is looking for immediate support for strategic infrastructure investments and sound budget management.
Oakville businesses have stated rising costs as the most significant factor impacting business and industry, according to the Oakville Chamber of Commerce’s 2016 Advocacy Survey. The survey also revealed that transportation infrastructure and traffic congestion remains a top concern for the Oakville business community. In fact, 64% of respondents believe that traffic congestion is a significant obstacle for business. Furthermore, the top three infrastructure priorities identified by respondents were all transportation related, calling for investments in local roads and bridges, public parking, and transit. The Oakville Chamber of Commerce urges the provincial government to address the infrastructure deficit by investing infrastructure funds strategically to increase productivity and enable competitiveness for Oakville businesses.
“The Ontario Chamber of Commerce, in partnership with our diverse Chamber Network, will continue to work with the provincial government to ensure that Ontario prioritizes reducing obstacles to business competitiveness,” said Allan O’Dette, President & CEO of the Ontario Chamber of Commerce. “By taking more authoritative action on this issue, we can ensure that Ontario remains an attractive environment for capital investment.”
In the submission, Ontario’s Chamber Network is also calling on the government to send a clear message of fiscal stability by balancing the provincial budget by 2017-2018. Such action would result in a more attractive environment for business investment and growth as well as confront the challenge of mounting input costs, such as electricity prices. As signalled last week in the Ontario Chamber of Commerce’s Ontario Economic Report, businesses are maintaining their operations and holding onto cash rather than expanding production or investing. This indicates that industry sees the Ontario economy as high-risk.
“The Government of Ontario must ensure that it addresses recommendations made by the Oakville Chamber of Commerce in their provincial budget in order to support economic growth for Ontario businesses,” stated John Sawyer, President of the Oakville Chamber of Commerce. “Government must focus on reducing the costs of doing business in Ontario, supporting strategic infrastructure development and strengthening its efforts to bolster business competitiveness that allows Oakville to thrive.”
Addressing the current fiscal context and achieving a balanced budget is an underlying theme throughout the pre-budget submission. Ontario’s Chamber Network is committed to working with the Ontario Government to ensure the future economic success of the province. The submission is largely comprised of policy recommendations that are supported by resolutions passed by Ontario’s Chamber Network at the Ontario Chamber of Commerce’s most recent Annual General Meeting.