Canada: Business environment at a glance
September 25, 2006
Canada: Business environment at a glance. Check it out:(EIU Viewswire Via Thomson Dialog NewsEdge) COUNTRY VIEW
FROM THE ECONOMIST INTELLIGENCE UNIT
Policy towards private enterprise and competition
2006-07: A generally pro-business stance will be maintained. While the change in government clears the way for bank mergers, the government has not yet made them a priority.
2008-10: Most mergers and acquisitions will win approval, subject to close scrutiny by the Competition Bureau. There will be a cautious loosening of foreign ownership curbs in telecommunications and broadcasting.
Policy towards foreign investment
2006-07: Domestic banks will face increasing competition as a result of reduced restrictions on foreign firms.
2008-10: Banking, transport, telecoms, the media and the airline industry will become less protected.
Foreign trade and exchange controls
2006-07: Co-operation with the US over border security will remain a high priority, although the government will attempt, probably unsuccessfully, to delay the implementation of US plans to require passports for border crossings.
2008-10: Trade relations with the US will remain of vital importance and Canada will push for freer trade on a bilateral and multilateral basis.
Taxes
2006-07: Federal capital tax will be revoked. The goods and services tax (GST) will fall from 7% to 6%, effective July 2006. Corporate tax cuts will be geared towards improving competitiveness.
2008-10: Corporate surtax eliminated. Corporate income tax rate gradually reduced, to 19% by 2010.
Financing
2006-07: The comprehensive overhaul of regulations governing financial services will increase competition.
2008-10: Domestic consolidation and a growing foreign banking presence will significantly alter the structure of the financial sector.
The labour market
2006-07: Immigration will rise and the government will move to ease labour shortages by allowing in more foreign workers on temporary permits and by improving recognition of foreign credentials.
2008-10: The government will continue to give a high priority to training in knowledge-based industries.
Infrastructure
2006-07: Private-sector investment in the electricity grid will be held up by the ambiguity in the public sector's commitment to market deregulation.
2008-10: Federal and provincial governments will continue to invest heavily in infrastructure, including large-scale water and sewerage projects, highway and rail networks, tourism and urban development, local transportation and high-speed broadband communications.
Copyright 2006 Economist Intelligence Unit
Related Tags: foreign, government, competition, business, corporate, Corporate
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