{"id":15592,"date":"2018-11-26T14:41:08","date_gmt":"2018-11-26T22:41:08","guid":{"rendered":"https:\/\/vrca.ca\/?p=15592"},"modified":"2018-11-26T17:12:26","modified_gmt":"2018-11-27T01:12:26","slug":"canadian-construction-association-applauds-initiatives-in-federal-governments-fall-economic-update","status":"publish","type":"post","link":"https:\/\/vrca.ca\/blog\/2018\/11\/26\/canadian-construction-association-applauds-initiatives-in-federal-governments-fall-economic-update\/","title":{"rendered":"Canadian Construction Association applauds initiatives in federal government\u2019s fall economic update"},"content":{"rendered":"

The Government of Canada published its fall economic update on Nov. 21. Below is the statement that CCA released for member information. <\/em><\/p>\n

Canadian Construction Association applauds government\u2019s initiatives to restore business confidence<\/h3>\n

The Canadian Construction Association (CCA) applauds the government\u2019s efforts to restore business confidence in Canada as stated in the fall economic update released on Nov. 21.<\/p>\n

\u201cCCA has been advocating for prompt payment, accelerated depreciation, support for attracting under-represented segments into construction as well as for increased funding for innovation and infrastructure,\u201d said Mary Van Buren, CCA president. \u201cThese commitments by the government are essential to enabling Canadian construction firms to compete more effectively in Canada and around the world.\u201d<\/p>\n

Construction is a cornerstone of the Canadian economy, employing 1.4 million Canadians and generating 7% of the gross domestic product (GDP). The construction industry is integral to building strong and resilient Canadian communities, connecting our citizens and businesses.<\/p>\n

The following announcements in the government\u2019s fall economic update are of particular value to CCA\u2019s 20,000 member companies:<\/p>\n

Faster depreciation of equipment will improve productivity<\/strong>
\nMany of our firms are capital intensive and the depreciation will free up significant funds that the firms will use to improve their productivity through innovation, technology or equipment purchases. This in turn will allow them to compete on larger projects, or to deliver more projects to build a better Canada.<\/p>\n

Help with payment issues and red tape welcomed<\/strong>
\nThe commitment to introduce prompt payment legislation is a clear demonstration that the government is listening to the members of the construction industry. Not only will prompt payment legislation address cash flow problems for construction companies, it will improve productivity generating greater value for the Canadian economy.<\/p>\n

The government\u2019s intention to create a culture to harmonize regulations, reduce red tape and respond to recommendations from the business community is a positive step to restoring confidence in Canada.<\/p>\n

Funding for entrepreneurs will help grow the talent pool<\/strong>
\nWith an aging workforce and looming retirements, the construction industry is facing an urgent need for skilled and technology-savvy workers. \u201cConstruction is quickly evolving, applying new technology to deliver Canada\u2019s infrastructure of the future,\u201d said Mary. The funding for women as well as for Indigenous and recent immigrant women entrepreneurs, apprentices and workers will help businesses better support the training, recruitment and retention of this talent pool.<\/p>\n

Support for innovation<\/strong>
\nThe increased funding for innovation through the Strategic Innovation Fund will be instrumental in enabling the construction industry to for example, develop solutions to climate change or reduce waste.<\/p>\n

Export-enabling infrastructure<\/strong>
\nIn addition to the $180 billion already allocated for infrastructure, the new commitment to investing in Canada\u2019s export-enabling infrastructure is an endorsement of the role construction plays in strengthening both Canada\u2019s domestic economy and in opening doors for Canadian firms to markets around the world.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Government of Canada published its fall economic update on Nov. 21. Below is the statement that CCA released for member information. Canadian Construction Association applauds government\u2019s initiatives to restore business confidence The Canadian Construction Association (CCA) applauds the government\u2019s efforts to restore business confidence in Canada as stated in the fall economic update […]<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[],"_links":{"self":[{"href":"https:\/\/vrca.ca\/wp-json\/wp\/v2\/posts\/15592"}],"collection":[{"href":"https:\/\/vrca.ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vrca.ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vrca.ca\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/vrca.ca\/wp-json\/wp\/v2\/comments?post=15592"}],"version-history":[{"count":4,"href":"https:\/\/vrca.ca\/wp-json\/wp\/v2\/posts\/15592\/revisions"}],"predecessor-version":[{"id":15617,"href":"https:\/\/vrca.ca\/wp-json\/wp\/v2\/posts\/15592\/revisions\/15617"}],"wp:attachment":[{"href":"https:\/\/vrca.ca\/wp-json\/wp\/v2\/media?parent=15592"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vrca.ca\/wp-json\/wp\/v2\/categories?post=15592"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vrca.ca\/wp-json\/wp\/v2\/tags?post=15592"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}