GCACC Pre-budget submission to the Province of Prince Edward Island
THE GREATER CHARLOTTETOWN AREA CHAMBER OF COMMERCE PRESENTS CONCERNS TO PROVINCE AT PRE-BUDGET MEETINGS
February 10, 2011
Representatives of the Greater Charlottetown Area Chamber of Commerce presented their concerns to the Honourable Wes Sheridan, Minister of Finance and Municipal Affairs, at pre-budget meetings in Charlottetown today. The Chamber focused its 2011 pre-budget submission on two major themes: the province’s deteriorating fiscal situation and business competitiveness.
The size of the provincial deficit is a major issue for Chamber members according to the Chamber’s 2011 Issues Survey. In its pre-budget submission, the Chamber called on the Province to address the growing debt. “Relying solely on economic growth is not sufficient to address the deficit,” commented Berni Wood, President of the Greater Charlottetown Area Chamber of Commerce. “We recommend that the Province develop an action plan that focuses on expenditure reduction with measurable, achievable targets.”
The Chamber’s 2011 submission included a scorecard that identified key performance criteria in the areas of Fiscal Stewardship and Competitiveness and rated the Province on each. The scorecard will provide a benchmark to measure progress in future pre-budget submissions. Through the scorecard, the Chamber addressed members’ concerns over a variety of factors which impact business viability and expansion. For example, the lack of input tax credits puts many Chamber members at a significant competitive disadvantage with businesses in other Atlantic Provinces and across the country. The Chamber gave the Province a “fair” rating on Tax Structure and Rates and reiterated its request for an in-depth examination of the provincial tax system in consultation with the business community.
Energy costs are another area where Island businesses are at a competitive disadvantage with our neighbouring provinces, however, the Province received an “improved” rating in this area as a result of the recently announced Energy Accord.
The Greater Charlottetown Area Chamber of Commerce serves as the “Voice of Business” on economic issues for its 900 members representing over 17,500 employees in small, medium and large enterprises in the capital region. To view the Chamber’s pre-budget submission visit www.charlottetownchamber.com.
UPCOMING EVENTS
- 125th Annual General Meeting & Presidents Annual Luncheon
22 May 2012
- 21st Annual Corporate Challenge Golf Tournament
22 June 2012
Lot 30 Restaurant/Wine Bar
Largo Fitness Center
The Garment District
