The Cement Association of Canada (CAC) today applauded the findings of the Seventh Report to Canadians on the Implementation of the Economic Action Plan. Released on January 31, 2011 by the Honourable Jim Flaherty, Minister of Finance, the report indicates that several billion dollars have successfully been invested in critical infrastructure projects across Canada.
The CAC took the opportunity to highlight the critical importance of the planned corporate tax reductions in boosting the competitiveness and growth of the private sector, both of which it says are critical to the continued economic recovery and job creation, and applauds the federal governments reduction of the rate from 18% to 16.5% on January 1 of this year.It is clear to our members that the Economic Action Plan has played a significant role in assisting Canadian manufacturers weather the recession and has allowed the addition of critical infrastructure in Canada, said CAC President and CEO Michael McSweeney. It is equally clear to us that, as the government-led stimulus starts tapering off, measures that improve Canadian competitiveness and promote private sector growth to lead us through this fragile period of recovery are more imperative than ever. The planned reduction in the corporate tax rate is such a measure.