Canada is increasing funding for automakers by $500 million ($454 million) in a bid to attract more investment from companies such as Chrysler Group LLC to an industry reeling from global competition and declining output.
Canadian business investment needed to sustain an economic recovery is threatened by Liberal Party Leader Michael Ignatieff ’s pledge to scrap planned corporate tax cuts because companies may find it difficult to plan, the head of the country’s manufacturing lobby group said.
Canadian Prime Minister Stephen Harper ’s government is promoting planned corporate income tax cuts today with a country-wide campaign aimed at pressing opposition lawmakers to back his government’s 2011 budget.
President Barack Obama and Canadian Prime Minister Stephen Harper agreed to take steps to speed the flow of goods and people across the border while enhancing security and harmonizing regulation, in a bid to counter weakening trade ties between the two countries.
Canada’s largest business group will step up its lobbying campaign against opposition leader Michael Ignatieff ’s plan to cancel corporate tax cuts, saying it threatens the investment needed to carry an economic recovery.