April 4, 2024 (Mississauga, ON) – As Canada grapples with global economic headwinds and declining competitiveness, the Ontario Chamber of Commerce has released its 2024 Federal Budget Submission, with proposals to support higher productivity, more innovation, and sustainable, inclusive growth.

“Businesses across Mississauga continue to face challenges as a result of labour shortages, inflation, and economic uncertainty,” said Trevor McPherson, President and CEO of the Mississauga Board of Trade..  “Canada’s 2024 Budget must rebuild confidence amongst Ontario businesses, supporting sectors that have been disproportionately impacted by economic disruptions, generating predictability, and laying the groundwork for inclusive and sustainable growth.”

The OCC’s 2024 Federal Budget Submission includes recommendations to:

• Cultivating competitiveness and inclusive, sustainable growth by building upon existing debt-relief options for small-and-medium sized enterprises in sectors needing it most, attracting competitive investments in low-carbon energy and adaptation, and taking meaningful action on economic reconciliation with Indigenous people, nations and communities.
• Investing in resilient, healthy communities by addressing human health resources shortages, collaborating with industry and key stakeholders on plans for national dental care, pharmacare, and the national strategy for drugs for rare disease-modifying treatments, and prioritizing investments throughout the life sciences ecosystem.
• Empowering Canada’s workforce by working with northern, rural, and remote communities to attract and retain workers, addressing uncertainty in Canada’s post-secondary by engaging in productive conversations with provinces, territories, and educational institutions to clarify how the cap on international student enrollment aligns effectively with the established trusted institution framework, and reforming the Employment Insurance system.
• Building strong foundations through infrastructure by addressing Canada’s affordable housing crisis through partnerships and innovative solutions, recommitting to deeper market and non-market housing affordability along the housing continuum, and taking immediate action on a robust nationwide infrastructure strategy, including investments in clean technologies, supply chains, transit, and broadband. 

“Canada’s competitiveness problem can only be solved through increased productivity and innovation,” said Daniel Tisch, President and CEO of the OCC. “This is why the Ontario Chamber of Commerce calls for Budget 2024 to prioritize measures that attract private sector investment, support a healthy and skilled workforce, and build the infrastructure Canada needs for sustainable prosperity.”

READ THE OCC’S FEDERAL BUDGET SUBMISSION HERE.