Manufacturers are realizing their expectations in the context of the law of limiting inflation

MONTRALAnd March 27, 2023 /CNW/ – The Manufacturers and Exporters of Qubec (MEQ) announces its 2023-2024 budget forecasts for the Deputy Prime Minister and Minister of Finance of the State of Qatar. CanadaHonorable Christia Vreeland, in order to ensure the competitiveness of Quebec manufacturers. MEQ endorses the Deputy Prime Minister’s remarks regarding the importance of a strong industrial policy in the UK Canada in the actual context.

The United States passed the Inflation Reduction Act (IRA), which aims to reduce inflation through major tax measures and incentives to support investment projects, particularly in the manufacturing sector. It is expected, after the economic modernization last fall, that the government Canada Responding to these US actions that greatly harm the fair competition between our two countries. In this context, it becomes crucial for Canada To propose strong measures, so as not to harm our business climate and thus enhance the attraction of private and foreign investment, ”says Vronique Proulx, President and CEO of MEQ.

Ensure the competitiveness of our manufacturers

For this purpose, manufacturers and exporters Canada I made some RecommendationsTo ensure the competitiveness of the manufacturing business within the framework of the budget to be presented on March 28.

These recommendations are grouped under 4 themes:

1. supporting manufacturers in the context of labor shortages, in particular through increased and more targeted migration as well as better support for training;
2. stimulate innovation and promote the integration of new technologies;
3. Increased production of goods made here Canada and increase exports.
4. Support manufacturers in their decarbonization efforts so that they contribute to government goals

The manufacturing sector is a real pillar of our economy. We must provide them with a suitable business climate and give them the necessary levers to ensure their competitiveness so that they can compete with what is being done in the United States. Also, the arrival of US President Biden set the budget schedule, while the importance of cooperation and integration between the two countries was touched upon. Mrs. Proulx.

Consult the summary of manufacturers and exporters Canada forwarded to the Minister of Financehere.

About Manufacturers and Exporters Qubec (MEQ)

MEQ represents 1,100 plants across Quebec. Quebec’s manufacturing sector employs more than 473,000 people and accounts for 13.5% of GDP and 86.5% of exports. It achieved global sales of about $153 billion in 2020.

Source Qubec manufacturers and exporters

Press release sent on March 27, 2023 08:59 and distributed by: