Entries in exports (1)


What business needs to know about the Canadian economy

On Friday, March 27th, the Peterborough Chamber of Commerce held its 126th Annual General Meeting with about 45 members at the Holiday Inn Peterborough Waterfront.   Along with approving the actions of the Board of Directors and financial statements for 2014, the attendees heard from Canadian Chamber of Commerce (CCC) Senior Director of Economic, Financial & Tax Policy Hendrik Brakel.  

Brakel broke down the current state of the Canadian economy from the impact of the US economic recovery to oil to Canadian household debt. 

“Business investment and exports are how the Canadian economy will grow in the near future,” he told the crowd.  “Ontario will be leading the way on both of those fronts for Canada.” 

Oil prices will rebound, Canadian interest rates will remain low and we will see emerging markets slowing their growth compared to recent trends.  One word of caution from Brakel was that the Canadian consumer needs to take a break and start paying down debt. 

Brakel also spoke about the upcoming federal election and on which issues the CCC will be focusing.  

"Identifying the needs of businesses across the country is the first step," says Brakel.  "We know what businesses need to be effective: people, capital, technology and innovation, access to markets and an efficient regulatory environment."

From that the issues flow. The Temporary Foreign Worker file has been a struggle for certain industries since the new rules came into effect last June.  There will be a push for a better approach to environmental regulations and ways to manage our natural resources, along with addressing the skills gap in the labour market, improving access for Canadian goods in new markets and creating a climate for innovation and technology.