Canada's Chemical Producers congratulated the Ontario Government for taking concrete action to help Ontario's manufacturing sector.
The targeted initiatives announced in a package of business tax measures will help improve Ontario's competitiveness and help attract new investments to curb a difficult economic environment.
"The high Canadian dollar, the slowing US economy, and high energy prices have wreaked havoc on the traditional heartland of Canada's economy," said Richard Paton, President and CEO of the Canadian Chemical Producers' Association (CCPA). "The elimination of the Capital Tax and strategic investments in infrastructure will offer a much better investment climate for Ontario."
CCPA is also calling on the Provincial Government to continue important negotiations with their federal finance counterparts on sales tax harmonization, which is another form of capital taxation in Ontario, and to further extend the capital cost allowance for new machinery and equipment.
Canadian Chemical Producers' Association
marketing@alchempro.com
