Montréal, November 1, 2016 ‒ The Chamber of Commerce of Metropolitan Montreal acknowledges the budget update released today by Canada’s Minister of Finance, the Honourable Bill Morneau, and its emphasis on infrastructure reinvestment.
Ensuring that strategic infrastructure projects get built
“The Chamber welcomes the creation of the Canada Infrastructure Bank. We supported this project because it is an additional tool to provide the necessary funds for strategic projects. However, the government will have to ensure that this new institution optimizes financial resources, avoids overlap with existing institutions, and has the necessary expertise to work with the provinces and with municipalities,” stated Michel Leblanc, President and CEO of the Chamber of Commerce of Metropolitan Montreal.
“Montréal's business community also supports the federal government’s decision to invest in public transit infrastructure, transportation infrastructure that supports trade, and green infrastructure. We are asking the government to confirm a $1.25-billion contribution to the Réseau électrique métropolitain (REM) and as quickly as possible. We also invite the government to commit, in 2017, to supporting the plan of VIA Rail Canada to launch a high-frequency rail service in the Québec City-Toronto Corridor. These two key projects are very much in line with the plan presented by Minister Morneau,” continued Michel Leblanc.
Still no federal support for Bombardier
“The Montréal business community is very disappointed that the federal government has remained silent on the $1.3-billion investment requested to fund the final phase of the C series. Bombardier is a strategic player in the Canadian aerospace industry, which is mainly concentrated in the Montréal metropolitan region. It is in the entire country’s interest for this leader in Canadian entrepreneurship to achieve one of Canada's most ambitious commercial innovation projects. We encourage Minister Bains to stop hesitating and confirm the federal government’s support for Bombardier as soon as possible,” said Michel Leblanc.
Establish and adhere to a plan to balance the budget
“The updated budget shows that the country's economic growth is still volatile and a source of concern. The business community has supported increased investment in infrastructure to strengthen the economy. However, Canada’s ability to face a new economic storm will depend in part on the shape of our public finances when this storm hits. The government must therefore develop a credible plan to return to a balanced budget. A climate of trust and a predictable business environment are essential conditions to stimulate private investment,” continued Michel Leblanc.
More information at the Chamber’s forum on Thursday
“Massive reinvestment in transportation infrastructure is a major concern for Montréal’s business community. In light of today’s budget update, we are looking forward to hearing Minister Marc Garneau’s strategic plan for the future of transportation in Canada at the forum of the Chamber of Commerce of Metropolitan Montreal this Thursday,” concluded Michel Leblanc.
About the Chamber of Commerce of Metropolitan Montreal (CCMM)
With a network of over 7,000 members, the CCMM is active on two fronts: being the voice of the Montréal business community and delivering specialized services to businesses and their representatives. With its finger on the pulse of current events, it acts on issues that are decisive for the prosperity of the city’s businesses. With the support of the Acclr experts, the CCMM’s goal is to accelerate the creation and growth of businesses of all sizes, at home and around the world.
Advisor, Media Relations
Chamber of Commerce of Metropolitan Montreal
Tel.: 514 871-4000, ext. 4042
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