OVERVIEW
Yesterday, Canada elected a strong minority Liberal government led by Justin Trudeau. CME expects the Liberals will be able to move forward with passing legislation as, they will only need the backing of one party or a combination of 13 votes to put them to 170, majority threshold.
WHAT TO EXPECT
- With the Conservatives winning the popular vote and almost sweeping the prairies, its pro-business, pro-oil and gas message are more likely to be considered by the
Liberals. This includes pushing for the completion of the Trans-Mountain Pipeline and continued responsible resources development.
- Both the Liberals and Conservatives are expected to support reducing the cost of doing business in Canada, especially around red-tape and regulations; free trade and growing Canada’s exports.
- We can anticipate the Liberals will work closely with the NDP and the Green Party on social and environmental issues.
- Many Ministers and their staff will be re-instated
- CME does not expect radical swings in public policy to occur as the Liberals enjoy a strong
enough position, albeit, in a minority situation now.
KEY ISSUES FOR MANUFACTURERS
- USMCA will not be challenged in Canada.
- Support for export strategies and industry growth will continue.
- Clean fuel standards implementation, ban on single-use plastics, and increases in carbon tax will likely move forward.
- Complications surrounding pipeline and resource sector development with the full implementation of Bills C-69 and C-48 are expected.
WHAT'S NEXT
CME will connect with the new government as soon as possible and will continue to advocate for manufacturers top three asks:
- Solve labor shortages and drive
investment
- Reduce the costs of doing business and increase competitiveness
- Seize business opportunities will remain our focus going forward.