CVMA Statement on the Ontario Budget
Statement by Brian Kingston, President & CEO of the Canadian Vehicle Manufacturers’ Association:
The CVMA applauds the measures introduced today to significantly lower electricity costs for industrial and commercial employers and reduce property taxes by lowering Business Education Tax (BET) rates while also committing to clarifying industrial property valuations for assessment purposes in Ontario. This is welcome news for the automotive manufacturing industry which directly employs over 100,000 Ontarians.
Rising electricity costs and the tax burden have been key competitiveness challenges facing the auto industry for many years. Reducing these costs will help to position the automotive industry for success.
For further information, please contact:
Canadian Vehicle Manufacturers’ Association
About the Canadian Vehicle Manufacturers’ Association (CVMA)
The Canadian Vehicle Manufacturers’ Association is the industry association that has represented Canada’s leading manufacturers of light and heavy duty motor vehicles for more than 90 years. Its membership includes FCA Canada Inc.; Ford Motor Company of Canada, Limited and General Motors of Canada Company. Collectively its members operate 4 vehicle assembly plants as well as engine and components plants, and have over 1,300 dealerships. 136,000 jobs are directly tied to vehicle assembly in Canada. Direct and indirect jobs associated with vehicle manufacturing are estimated at over 792,000 across Canada. Please visit www.cvma.ca.