Business leaders meet Trudeau in Montreal to discuss pay equity and corporate tax reform

Prime Minister Justin Trudeau on Monday praised his government's new pay equity law at a conference of women CEOs. He emphasized Canada's response to the major corporate tax reform in the United States.

The women entrepreneurs present in the Ballroom of the Ritz-Carlton Hotel cheered while he was going on stage for an interview at the most powerful International Women's Summit organized by Fortune magazine.

Playing in front of the crowd, he explained to his audience that he was certain that many of them, in their "impressive career", had to fight for pay equity.

"Having your job undervalued, being underpaid, just because you're a woman, is unacceptable," said Trudeau. "Last week, our government introduced historic federal legislation on pay equity."

The bill would apply to all employers of 10 or more federally regulated employees, including private sector companies such as banks and railways.

In 2017, Canadian women earned 88.5 cents for every dollar earned by a man, measured in hourly wages for full-time workers, according to government figures.

"Making important changes is difficult," said the prime minister, "it takes courage to do great things, I know this room is up to the challenge."

After his brief speech, he sat on the stage for an interview with author and magazine editor Nina Easton, who told him how much the Canadian business community was concerned about the country's competitiveness after the reduction. corporate tax in the United States.

Trudeau said Canada's current rates continue to be competitive and added that companies consider other criteria than taxes to decide where to invest.

"We are very conscious and aware of the need to remain competitive," said the Prime Minister.

Following the tax cuts in the United States, Trudeau and Finance Minister Bill Morneau were urged to react to ensure that the country's businesses do not move south of the border.

Morneau intends to announce policies to strengthen Canada's competitiveness in its economic update from November 21 to the fall.

Earlier in the day, Faisal Kazi, President and CEO of Siemens Canada, said the industrial conglomerate would invest more in Canada if the federal government lowered its corporate tax rate after a meeting with Trudeau.

In an interview with Canadian Press, Kazi, along with Barbara Humpton, CEO of Siemens USA, said that although his company would like to see a tax cut, Canada remains an attractive place to invest because of its reservoir. Talent and ongoing government investments in innovation.

"Of course, we can invest more if the tax structure is more attractive (in Canada)," said Kazi. "We would do even more."

Humpton said his company was interested in the government's $ 950 million "supercluster" program and its investments in artificial intelligence.

Innovation Minister Navdeep Bains announced last February that five technology groups will share up to $ 950 million in federal funding to bring together businesses, academic institutions and other non-profit organizations to create clusters of innovation throughout the country.

Trudeau also met with Isabelle Marcoux, chair of Transcontinental Inc.'s board of directors, on Monday, who said she spoke about increasing the role of women in business and additional government support for print journalism.

According to Mr. Marcoux, the government has made a lot of progress, but "much more" needs to be done to increase the number of women on the boards of Canadian companies.

She added that she was helping to build a cadre of women executives who would become eligible for leading roles in business.

"Canadian companies are responsible for building this pipeline," she said.

Marcoux added that she had also insisted on the need for her government to invest more in helping local newspapers during difficult times.

Her company, which owned many newspapers across the country, sold all but one of its products and was separated from all its magazines, she said.

"We are a printer and we find that our customers – especially the local press – are suffering."

Ottawa has pledged $ 50 million over five years to help local journalism in its 2018 budget.

"I think it was not enough," Marcoux said. "And it's a little complicated to have access to these funds."