TORONTO, March 15, 2022 – Today, the Toronto Region Board of Trade put forward recommendations to the Government of Canada ahead of its upcoming federal budget.
Based on consultations with our 11,500 members, the Board of Trade has put forward seven key recommendations to support the Toronto region’s economy and businesses. We are urging the federal government to implement policies that will address the housing affordability crisis, better fund transportation and infrastructure projects, embrace the climate economy, focus on our workforce, and continue to support business growth and scale-up opportunities as we emerge from COVID-19.
Specifically, we call on the Government of Canada to:
- Increase Housing Affordability: Implement the Housing Accelerator Fund, with a focus on delivering support to municipalities that commit to fast-track project review times and increase the use of “as-of-right zoning” for missing middle and mid-rise projects
- Provide Emergency Operating Funding to Transit Agencies: Deliver long-term financial supports targeted at establishing clear and consistent service frequency standards across the Toronto region
- Fund Infrastructure Differently: Invest in more robust, place-based data to better assess infrastructure planning to tackle transit infrastructure and housing affordability challenges in a way that provides better return on investment
- Continue to Support the Climate Economy: Support Canadian companies reach their bold GHG emission reduction targets through facilitating these companies’ efforts to scale-up and deliver world-leading solutions
- Continue to Support Workforce Development: Focus on policies that integrate employer needs and perspectives and that transparently report on performance metrics
- Extend Supports for Businesses: Extend business supports as Canada reopens its economy
- Help Businesses Scale Up: Continue to invest in programs that empower businesses to scale-up
The implementation of these recommendations by the federal government will bolster our region’s economic growth at a critical time, strengthen the region’s housing and public transit infrastructure, and ensure we’re able to more effectively attract and retain talent. As always, we look forward to continuing to work collaboratively with the Government of Canada on our shared goal of being a catalyst for business, economic, and regional growth.
About Toronto Region Board of Trade
The Toronto Region Board of Trade is one of the largest and most influential business chambers in North America and is a catalyst for the region’s economic agenda. We pursue policy change to drive the growth and competitiveness of the Toronto region and facilitate market opportunities with programs, partnerships and connections to help our members succeed – domestically and internationally.
Andrew Perez, Media Relations Manager