LIBERALS ANNOUNCE $1 BILLION FUND TO PROMOTE MANUFACTURING

LIBERALS ANNOUNCE $1 BILLION FUND TO PROMOTE MANUFACTURING

For Immediate Release

September 19, 2008

Ignatieff: Liberals have the economic track record to stop job losses and transform industries


OSHAWA, Ontario -- A new Liberal Government will invest $1 billion in an Advanced Manufacturing Prosperity (AMP) Fund to restore manufacturing job security and strengthen Canada’s research & development, Deputy Leader Michael Ignatieff and Whitby-Oshawa Liberal candidate Brent Fullard announced today.



“Manufacturing is the core of many Canadian communities and a key to Canada’s economic productivity and prosperity,” said Mr. Ignatieff, who was campaigning today outside of his own riding of Etobicoke-Lakeshore. “Canadians deserve a government with a track record of consistent economic leadership who will lead the turn-around to stop job losses and transform our industries so that not only are they competitive, but will actually lead the world in the manufacture of cutting-edge, sustainable technologies,” he stated.



Canada’s manufacturing industry has struggled on account of the rising Canadian dollar, increased global competition and higher energy prices. A Liberal Government will address these challenges and stimulate Canada’s manufacturing sector by promoting the development of new industries and products, increasing investments in research and development, and developing a new corporate tax advantage to replace the declining currency advantage.



“The Harper Conservatives have taken a backseat on this issue, waiting until the eve of an election to begin addressing the chronic uncertainty and hardship facing thousands of workers and their families,” added Mr. Fullard. “Consider the Conservative’s overdue investment in Ford’s Windsor Engine Plant - Ford does not stand for ‘Financed On Re-election Day’, and nor should workers stand for such blatant opportunism,” he said.



As part of the AMP Fund commitment, a Liberal Government will invest $80 million to retool the Ford Engine Plant in Windsor and uphold the terms of the September 7, 2008 agreement with General Motors. Under that agreement, GM will invest $290 million in their Oshawa and St. Catharines operations to develop a gasoline-electric hybrid car and other new environmental technologies.



“Given the Conservative’s record of broken promises and inaction, which government would you rather stake Canada’s manufacturing future on?” asked Mr. Fullard.



Brent Fullard has spent over 20 years in the Canadian capital markets, most recently as Executive Managing Director and Head of Equity Capital Markets for BMO Nesbitt Burns. Mr. Fullard has previously worked in the Canadian oil and gas industry in Calgary and the Canadian automotive industry in Oshawa.



For further information:



Jill Fairbrother

Communications, Michael Ignatieff Campaign

(416) 788-0539



Alexis Levine

Campaign Manager, Michael Ignatieff Campaign

(416) 274-2417




Mark Cribari

Campaign Manager, Brent Fullard Campaign

(905) 665-3203