January 26, 2012
A new, ambitious and transformative plan for strenthening Ontario’s fiscal position.
Toronto – The Ontario Chamber of Commerce and the Mowat Centre at the University of Toronto have released a new, ambitious and transformational agenda that will enable Ontario to rise above current economic challenges.
The new report, Emerging Stronger, identifies five key strategic priorities for Ontario, and the concrete steps necessary to make Ontario more competitive, productive, and globally connected.
“Ontario has an extraordinary economic future,” says Len Crispino, President & CEO of the Ontario Chamber of Commerce. “To reach our full potential we must realistically identify the challenges we face, take leadership in advancing productivity, skills development and fiscal responsibility, and mobilize our enormous competitive advantages in the global economy.”
The report comes at a time when Ontario faces a major turning point in its economic history. The economic downturn, high levels of government and consumer debt, the relative decline of the U.S. economy, and new patterns of global competition and cooperation pose a new set of challenges and opportunities for the province.
“We are transitioning away from many of the old industries that were the foundations of Ontario’s prosperity for generations while the global economy is undergoing a geopolitical re-ordering,” says Matthew Mendelsohn, Director of the Mowat Centre.
Neither consumer nor government spending in North America can be counted on to kick start to economic growth, adds Mendelsohn.
The report notes that federal and provincial governments, along with the private sector and other actors, must align their goals and focus on areas where Ontario holds competitive advantages in the global economy.
At a time when the Ontario government is looking to curb spending and implement reforms, the Ontario Chamber of Commerce and the Mowat Centre, supported by Leger Marketing, are pleased to add the voice of Ontario’s business and civic leaders to the debate through this report. Emerging Stronger is based on broad consultation with Ontario’s business, government, and civic leaders, with feedback from participants at the Ontario Economic Summit.
Read the full report
