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Barrie Chamber of Commerce calls on Province to ‘Get Back to Fiscal Balance’

Thursday, February 18, 2016

"Barrie Chamber Calls For 2016 Budget that Extends Business Engagement and Focuses on Job Creation and Reducing Regulatory Burden"

--Rod Jackson, CEO

Today, the Barrie Chamber of Commerce in partnership with the Ontario Chamber of Commerce released its 2016 Ontario Pre-Budget Submission, which outlines key priorities that address the need to eliminate the deficit and establish some much needed regulatory reforms.

According to the most recent OCC membership survey, 92 percent of Ontario businesses believe it is important that the government meet its deficit elimination target by 2017-18.

"Eliminating the deficit and reducing the debt should be the government's top priority," said Barrie Chamber CEO, Rod Jackson.

"The provincial debt is now roughly $300 billion - interest payments on that debt are consuming an ever greater portion of the provincial spend. Spending by government continues to outpace economic growth for the eighth year in a row."

The Barrie Chamber of Commerce's 2016 Pre-Budget submission further calls on the Province to work more closely with business around the development of the proposed carbon emissions cap and trade system.

In fact, 35 percent of respondents from the OCC membership survey are unsure as to how the proposed cap and trade system will impact their bottom line. Directing cap and trade revenues to facilitate business transition to a lower carbon economy would ensure that businesses can continue to operate and grow in the province.

"With complex issues like cap and trade and the provinces debt burden, it is important that the provincial government work collaboratively with local business communities to ensure a strong economic future," concluded Jackson.




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