Manufacturers Call for a Concrete Plan for the Economic Recovery
Monday, August 30, 2021 2:23:00 PM
Canadian Manufacturers & Exporters (CME) unveiled its platform for the 2021 federal election today, which outlines a national strategy to restore Canada's manufacturing sector's leading position. After a year and a half of the pandemic, this plan, which is based on four pillars - workforce, innovation, exports, and a net zero strategy - is a necessity to ensure the country's self-sufficiency and to remain competitive.
Canadian Manufacturing Sector Lags Behind
COVID-19 has heavily impacted the manufacturing sector and has forced companies to quickly reinvent themselves to help fight the pandemic. However, the COVID-19 crisis does not explain all of the difficulties experienced by manufacturers.
The sector has been lagging for several years: with a slow decline in investment since the early 2000s and little growth in exports, the erosion of Canada's industrial competitiveness has had a direct impact on manufacturers' ability to respond to and recover from the crisis. Yet, Canadian manufacturers represent more than 91,000 businesses, 1.7 million employees, they generate more than $690 billion in annual sales, and are asking for government help to get back on their feet quickly.
A Concrete Plan in Four Pillars for the Sector
As the crisis begins to recede, we must decide now what vision for the economy and our sector will prevail in the years ahead. That's why Canadian Manufacturers & Exporters is presenting its demands to ensure a solid growth for the industry. This strategy will need to be founded on four pillars, with the importance of reducing the overall administrative burden on businesses in this country at its core:
- Get the workers that manufacturers and exporters need;
- Stimulate investment in innovation and advanced technologies;
- Increase Canadian exports; and
- Adopt an industrial net zero strategy.
Canadian manufacturers are ready to meet the challenges ahead and to reclaim their rightful place on the world stage. However, they need the federal government to be a true partner.
SOURCE: Canadian Manufacturers & Exporters