The Ontario Chamber of Commerce (OCC) released the fifth annual edition of Emerging Stronger, a document outlining an economic agenda for Ontario.
Done in partnership with the Mowat Centre, Emerging Stronger 2016 identifies the immediate steps that government and the private sector must take to enhance Ontario’s economic competitiveness and spur job creation in the province.
According to a survey commissioned by the chamber, Ontario businesses are increasingly unsure about the direction of the provincial economy with business confidence in the Ontario economy at a five-year low.
Only 30 percent of businesses are confident in Ontario’s economy, compared to 47 percent in 2012.
“The last year has been particularly disconcerting for local business; several major local employers have struggled with the implications of shifts in oil and electricity prices and the Canadian dollar, and it’s having a ripple effect” said Sault Ste. Marie chamber president Monica Dale in a news release. “Compound that with concerns about the roll-out of the new Ontario Retirement Pension Plan, cap and trade policies, and the challenges can look daunting.”
"It's clear that Ontario's business climate continues to pose some major challenges for businesses in Timmins and across the province," added Timmins chamber president Kurt Bigeau.
"Uncertainty in the global economy and the resources sector only adds to existing Ontario issues, such as skyrocketing energy rates, a growing regulatory burden, and uncertainty over such things as the Ontario Retirement Pension Plan. These contribute to the lack of confidence reflected in the Index, and we hope the Ontario government will work with the private sector to improve our competitiveness and create future growth.”
For details go online at: http://www.occ.ca/issue/emergingstronger
