FREELAND'S CALL TO "RETOOL MANUFACTURING" IS ILL-INFORMED AND UNREALISTIC

TORONTO, Jan. 25, 2024 /CNW/ - The Coalition of Concerned Manufacturers and Businesses of Canada (CCMBC) was shocked to hear Canada's Deputy Prime Minister and Finance Minister, Chrystia Freeland, state at the World Economic Forum (WEF) meeting in Davos, Switzerland that all Canadian manufacturing must be "retooled" to conform to the Liberal government's net zero goals. "This statement demonstrates a complete lack of knowledge about the Canadian manufacturing sector and what it requires to continue to provide well-paid jobs to Canadians and sizeable tax revenues to governments" said Catherine Swift, CCMBC President.

Despite its own lack of understanding of the operation of the Canadian economy and various business sectors, this Liberal government does not undertake meaningful consultations with manufacturers and other business sectors. Instead, it pursues foolish and unachievable ideological goals that have proven to be devastating for the economy and average Canadians.

Freeland also erroneously claimed that "decarbonization is the singular issue defining the world economy", and that it will mean "more jobs, more growth, more manufacturing". She also repeated other Liberal Cabinet members' claim about the energy transition away from fossil fuels being well underway. Swift commented "None of this is true. The world is currently consuming more fossil fuel-generated energy than ever, and all credible forecasts are that this will continue for some decades to come. At the rate this government is driving manufacturers out of the country to more welcoming jurisdictions, any 'retooling' will be done outside of Canada far away from the Liberal government and its destructive policies."

Freeland's constant harping on how important government policy will be to help along this energy transition was also disturbing to manufacturers. Swift added "Throughout the tenure of this government, the only things that have been helped along by their policies have been the exodus of investment, stagnation in the vital oil and gas sector, further erosion of manufacturing, massive taxpayer subsidies of profitable foreign companies in the declining Electric Vehicle and battery sector, deteriorating national unity and a worsening competitive environment for Canadian firms." 

The CCMBC (www.ccmbc.ca) was formed in 2016 with a mandate to advocate for proactive and innovative policies that are conducive to manufacturing, business retention and safeguarding job growth in Canada.

SOURCE Coalition of Concerned Manufacturers and Businesses of Canada