Business Council of Canada head Goldy Hyder argues that a deep, structural reform of the Canadian tax code could help unleash the country’s economic potential
OTTAWA — A business group representing 150 Canadian corporations has been lobbying federal officials for a broad-based review of the tax code, part of a wider effort to renew awareness about Canada’s waning competitiveness ahead of the looming federal election.
But executives and some politicians say Ottawa must go much further to properly address Canada’s declining business competitiveness, which they say threatens the the future of the Canadian economy. Hyder, among others, has proposed that Canada undergo a deep, structural review of the federal tax code in order to attract more capital and workers to the country. Overlapping regulatory bodies and a cumbersome tax regime have become a drag on investment in recent years, some observers say — an issue that could become ever more pressing as Canada faces a “demographic crunch,” according to Hyder.
“He said you want me to come and invest in a country in which your government bought a pipeline, it regulates it, it approved it, and it can’t build it?”
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