Another of Canada's largest business groups is warning that Ottawa needs to act now to lower corporate taxes or risk a continued exodus of investment and jobs to the United States.
The Canadian Manufacturers and Exporters, which represents 2,500 companies, released a report this week that paints a bleak picture of the business landscape in this country: declining investment in new equipment and technology, a sharp drop in foreign investment in Canada.
At the same time, investment in the U.S. is booming, fueled in part by the uncertainty President Donald Trump is creating over the future of the North American Free Trade Agreement — and in part by his tax plan, released in December, that cuts the top corporate tax rate from 35 per cent to 20 per cent beginning this year.
The Canadian Manufacturers and Exporters, which represents 2,500 companies, released a report this week that paints a bleak picture of the business landscape in this country: declining investment in new equipment and technology, a sharp drop in foreign investment in Canada.
At the same time, investment in the U.S. is booming, fueled in part by the uncertainty President Donald Trump is creating over the future of the North American Free Trade Agreement — and in part by his tax plan, released in December, that cuts the top corporate tax rate from 35 per cent to 20 per cent beginning this year.
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