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LABOUR: Calgary Chamber's strategy to help attract investment, skilled workers to Canada
        (AlbertaIndex, December 19, Wednesday) --- Canada must improve personal income tax competitiveness, alter retirement programs to encourage older workers to remain in the labour force, and set the right fiscal conditions to attract entrepreneurs and highly skilled professionals, says the Calgary Chamber of Commerce.
        In a federal pre-budget submission, the chamber said these moves are needed to help Alberta solve its crushing labour shortage.

The chamber recommends the federal government adopt a target to bring personal tax revenues, as a percentage of GDP, below the OECD average by 2012. Important steps would include reductions in each of the three highest tax brackets --- 22, 26, and 29 per cent --- and an increase in the basic personal exemption.

Chamber members believe personal tax cuts should be the federal government’s number one priority in the 2008 federal budget, according to a pre-budget survey.

“With the corporate tax reductions already announced and the implementation of our personal tax recommendations, by 2012, our country would become a leading destination for investment and talented workers,” says Heather Douglas, President and CEO of the Calgary Chamber of Commerce.

“Bold action is required to attract the next wave of the best and brightest. It’s time for a big push to make Canada’s personal income tax rates more competitive internationally.”

The chamber added that older workers must be counted as a critical element to help solve Alberta’s labour shortage. It wants changes to the Canadian Pension Plan, Old Age Security, and RRSP programs to reduce disincentives and entice older workers to continue in the labour force.

The chamber said federal retirement program amendments could increase the national labour supply by 767,000 or nearly four per cent, and generate over $24 billion in government tax revenues and pension savings.

The federal government must strengthen Canada’s economic competitiveness by limiting spending and increasing debt repayment.

Cost-efficiencies in programs and institutions can be achieved through controlled expenditure policies. The chamber recommends government limit spending by adopting a bandwidth approach delimited by population growth and inflation, and real growth in the economy.

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