The government is moving forward with an order-in-council to put the digital services tax into imminent effect. This retroactive and discriminatory tax is expected to increase costs for Canadian families, businesses and workers, while also posing a significant risk to Canada's relationship with the United States. 

We urge the government to reconsider this unilateral decision and work with international trading partners on a solution that better serves Canadians. 

POLICY MATTERS

Canada’s competitiveness has fallen off track. There are a lot of economic factors that have contributed to our decline in this area, but instead of focusing on how we ended up here, the latest edition of Policy Matters looks at nine measures we can either stop, start or continue to do in order to grow our competitiveness once again.

COMMENTARY

Following two months of decent growth, Canadian employment saw little change in June, coming in well below market expectations, while the unemployment rate increased to 6.4%, meeting expectations. 

Our Senior Economist, Andrew DiCapua, highlighted concerns about the acceleration in wage growth reinforcing the Bank's cautious stance, citing a delicate balance between rising unemployment and wages.

COMMENTARY

With a 0.3% rise in real GDP, the Canadian economy grew as expected in April.

Looking ahead, our Senior Economist, Andrew DiCapua, expects a 1.7% annualized growth for the second quarter, slightly above the Bank of Canada’s expectations. Monitoring inflation data will be crucial as economic adjustments continue, with the opening of the Trans Mountain pipeline expected to further support growth in the coming months. 

BLOG

The proposed ban on employer-paid virtual healthcare could hinder access to healthcare services for 10 million Canadians. These virtual services, included as part of employees’ benefit plans, provide remote medical consultations, reduce strain on the public health system and save public funds. 

The government should ensure that any communications about virtual care in the public system clearly permit employer-funded virtual care and focus on preventing out-of-pocket charges for necessary medical services. 

EVENT WRAP-UP

AI presents a generational opportunity to boost productivity in Canada.  

Our Business Data Lab and Policy Team have been keeping a close eye on generative AI adoption by Canadian businesses for a while, knowing that the possibilities presented by this transformative technology will have major implications for business, as well as Canada’s global competitiveness and future prosperity.  
 
We’re thankful for the opportunity to have recently shared these insights at the U.S.-Canada AI Policy Dialogue and through a deep dive discussion with Government of Canada officials.

On June 21, we submitted a comprehensive response to the International Trade Committee’s study on the pending 2026 review of the Canada-United States-Mexico Agreement (CUSMA). 

We stressed the need to identify and resolve trade issues while promoting stronger North American economic cooperation. Our key concerns included potential “Buy America” policies, digital services taxes, labour disruptions, defence spending and the importance of regulatory harmonization.  

Last week, we were pleased to welcome the International Organization for Migration (IOM) Director General, Amy Pope, and Deputy Director General for Operations, Ugochi Daniels, to our offices.

On the occasion of their high-level visit to Canada, we hosted a roundtable with employers, industry associations and members of our Canadian Chamber Network to discuss how we can better align immigration with our current labour market and economic realities.  

STATEMENT

ILWU Local 514’s decision to issue 72-hour notice of intended strike action at a DP World (Canada) terminal in British Columbia is extremely concerning.

Government simply can’t allow our B.C. ports to shut down for a second year in a row – they need to act as swiftly as possible to prevent a repeat of the impact on Canadian families, Canadian businesses, and the Canadian economy.

Presented at our AGM & Convention 2024, the Inclusive Growth Awards honour chambers of commerce, boards of trade and their members nation-wide for their exceptional efforts in removing barriers and fostering a diverse, equitable and inclusive economy.

Know of someone or an organization that deserves to be recognized for their important work? Submit a nomination at the link below. Submit a nomination at the link below before August 15.

EVENT WRAP-UP

On Saturday, July 6, we hosted an afternoon reception in Calgary in tandem with the annual Stampede festivities. We welcomed political and business leaders from Western Canada and beyond to network, connect and enjoy some food and entertainment.  

This fall, the York University School of Continuing Studies will launch its new Certificate in Diversity, Equity and Inclusion in Action, a six-month part-time program for mid-career professionals and business leaders. For more information on the Certificate in Diversity, Equity and Inclusion in Action launching in September 2024, check out our updated resource!  

On June 26, Corporate Knights released its ranking of the Best 50 Corporate Citizens in Canada. Based on publicly available data, and combining ESG and sustainable economy performance indicators, Énergir has earned a spot on the list for the past seven years. Keep reading about this feat in their featured blog post.