I again write concerning the interdependence of the Ontario and U.S. economies.
Since I last wrote on this subject in early November, dozens of economists, think tanks, corporate heads and political leaders across Canada have all begun to raise similar concerns.
Just today, I read CIBC Deputy Chief Economist, Benjamin Tal, stating he was very concerned about Trump’s impact on the manufacturing sector. Mr. Tal has stated, “I’m very concerned about the manufacturing sector under Trump in Canada because [U.S. manufacturers] are going to enjoy significant tax cuts. They are not going to pay anything for carbon — we are going to pay for carbon.”
The fact remains that US. President-Elect Donald Trump is poised to implement a game-changing pro-growth agenda while Ontario is heading in the exact opposite direction. Some of the items that President-Elect Trump has strongly advocated for include dramatic red tape and regulatory reductions, reducing personal and corporate income taxes, and walking away from carbon pricing. Indeed we have already begun to see the results of this as Ford, Toyota and Fiat Chrysler have each recently announced significant new investment and expansion in the US.
Premier, the US. is Ontario’s largest trading partner. You and I know that Ontario must remain competitive with our neighbours to the south. Despite this, your government continues to move fonlvard with a high tax/high hydro program, not to mention the increased burden that your cap and trade scheme has placed on job creators and families alike.
The reality is that the cost of doing business in Ontario is already higher than the U.S., and is continuing to grow. Ontario has lost over 300,000 manufacturing jobs under your government. Your policies are failing our workers. We need you to do better and make Ontario competitive. Time is of the essence.
Monte McNaughton
MPP for Lambton-Kent—Middlesex
* Editor’s note: This letter was written by Lambton-Kent-Middlesex MPP Monte McNaughton and sent to Premier Kathleen Wynne.
