AED Submits Pre-Budget Recommendations to Government
On August 5, AED submitted its written submission for the pre-budget consultations ahead of the 2022 federal budget. The House of Commons Standing Committee on Finance requested stakeholder input to develop its policy priorities for the government and Minister of Finance to consider.
AED focused on four areas of importance to get the economy going and benefit the equipment industry: tax policy, infrastructure, skilled labour and energy development. Specifically, AED recommended the federal government:
- Increase the Accelerated Investment Incentive for new and used equipment purchases from the current 45 percent to 100 percent to spur economic activity.
- Create a system that ensures consistent infrastructure spending to allow for long-term certainty for the construction sector.
- Earmark more dollars of its Investing in Canada Plan to support Canada’s near-term economic recovery and commit new funds for later years of the plan.
- Encourage the Canada Infrastructure Bank to collaborate with the private sector to make immediate investments in infrastructure projects to support economic growth and job creation.
- Focus on promoting apprenticeships and public awareness campaigns to encourage Canadians to seek careers in the skilled trades, including dealer service technicians.
- Pursue policies to stimulate Canada’s energy development sector and establish a predictable project approval process.
The government is expected to release the budget in early 2022.
For more information, please contact Michael Dexter, AED’s Senior Director of Canadian Engagement, at email@example.com.