The play has been called and the ball has been snapped. Now it is up to the private sector to move the ball down the field.
It is pretty much standard procedure for the federal government to enlist the support of other players when it builds a fiscal strategy. Sometimes a portion of the burden is downloaded to the provinces or municipalities. But this time, the private sector is the player in the spotlight.
Ottawa’s transformational or generational investments and opportunities are designed to reduce Canadian reliance on the American market by diversifying our customer list.
Secondly, we have to improve our productivity by investing more in plant, equipment, technology and skills. But at a time when the market is rife with uncertainty, convincing private investors now is the time to take on some added risk won’t be an easy sell.
So, the feds sweetened the pot a bit – providing support for marketing as well as some tax changes to encourage investment that they hope will help the country grow its way out of the current downturn.
