The CEO Poll: What to do
Joe Castaldo
Canadian Business Online
May 25, 2009
Canada's CEOs suggest ways to improve the economy.
Economic recovery for Canada could be long and slow, but in a recent poll conducted by COMPAS Inc., business leaders offered their thoughts on how the government can help the economy pick up steam.
The 111 CEOs surveyed believe the best thing for government to do is provide stronger tax incentives for updating equipment and technology. More than 85% of the respondents agreed with the idea, while only 9% opposed it. Boosting investment in post-secondary education and lowering corporate taxes were also popular suggestions.
Respondents were more divided on the idea of allowing the Canadian dollar to rise against the greenback.
The CEOs also provided their own suggestions, including helping businesses tap into developing international markets. “Innovation is one thing, but penetrating a market like China takes special effort, which most North American business are unequipped to tackle because of poor advice,” wrote one CEO. “There are many hurdles to selling in China, but once understood, the rewards are immense.”
Others rejected the idea of fiddling with tax incentives, and wanted government to take a lesser role in the economy. “I am tired of watching government try of manage the economy through specific tax incentives and subsidies,” wrote another respondent. “I advocate they cut the overall tax rate, leave more money in my business, and allow management to find the best returns on that money.”
To view complete results and additional polls, please click here.
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Previous poll results
