OTTAWA, Ont. The Canadian Trucking Association warned the Government of Canada of the unclear economic future of Canadian based industry in the North American economy.
The Canadian Trucking Association (CTA) told the Federal Government’s Standing Committee of Finance that the Government of Canada must act quickly regarding tax policy to maintain Canada’s standing as an prime place to invest, and to improve Canada’s share of North American trade.
The issue of the negative economic impact that recent fuel and insurance price hikes and the BSE crisis have had on the trucking industry war raised.
The CTA also highlighted that cross border trucking fleets and their customers’ businesses have entered a transitional phase in the North American supply chain due to new customs and security requirements, currency fluctuation, and increasing competition from southern U.S. states for new capital investment.
The CTA urged the Government of Canada to cooperate with the trucking industry to help drivers and company owners to cope with these changing competitive and cost measures.
CTA requested that the role of fiscal instruments must be expanded to bring about the changes required, including improved Capital Cost Allowance (CCA) rates for trucking equipment, separate CCA rates for environmentally friendly trucking equipment, meal deductibility for truck drivers, and an employment insurance premium rate-setting mechanism.
The full CTA submission is available at www.cantruck.com/.
Truck News is Canada's leading trucking newspaper - news and information for trucking companies, owner/operators, truck drivers and logistics professionals working in the Canadian trucking industry. All posts by Truck News