EDMONTON — Alberta Chambers of Commerce (ACC) President and CEO Ken Kobly released the following statement on the Federal Budget 2021:
"We've been waiting two years, and the biggest surprise is the scale of projected deficit and debt -- it's quite alarming to say the least.
"Continued support for business as Canadians face a potential third wave of variant strains and the investment in training and retraining are positives. Our members also support expanding broadband and refinancing the national trade corridors fund as much of our economy is rural and depends on moving goods and services.
"Ongoing monitoring of the business community will be critical to ensure scheduled scale backs of the Canada Emergency Wage Subsidy and Canada Emergency Rent Subsidy should actually occur depending on where we are in managing the pandemic. Accountability for program execution overall will be paramount over the term of the budget as it's a tremendous gamble of intergenerational wealth.
"We were somewhat surprised there was no commitment to overhaul the tax system given the emphasis on the digital economy, an underutilized opportunity for many small businesses. Without tax modernization, our entire economy will remain tethered to the past by a clunky, costly code that was last reviewed in earnest before touch tone phones were invented.
"With over 750 pages, this budget is enormous in more ways than spending. What we know at this point of our review is there appears to be something in there for almost everybody, unless you value thrift and savings. In that case you're out of luck."
Read the media release
issued by the Canadian Chamber of Commerce and their analysis
of Federal Budget 2021.
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For comment, please contact:
President and CEO
Alberta Chambers of Commerce
(P) 780.425.4180 Ext.5