Thank you, Mr. Pallister, and members of the committee.
I'll clarify my role. I am president of the Canadian Fertilizer Institute and a member of a coalition called the Business Tax Reform Coalition. The members of the coalition include the chemical industry in Canada, plastics, steel producers, the Conseil du Patronat du Quebec, forest products, the petroleum sector, the information technology sector, the mining industries, etc. We're a coalition of 13 large trade associations spanning a number of sectors. We are competing directly globally from a small open Canadian economy.
Our members have production of over $350 billion, exports of over $250 billion, and direct employment of 1.7 million people. Our jobs are high paying, jobs that Canada will need in the 21st century to sustain our standard of living. Members of our coalition do what Canadians do best, taking the resources that our country provides and applying highly skilled Canadians to provide the economic base of our country.
The Business Tax Reform Coalition would like to note that the government is on the right track in improving Canada's tax competitiveness with the reduction of the corporate tax rate to 19% and the elimination of the capital tax. We also want to thank the finance committee for its foresight in developing this year's theme, Canada's place in a competitive world.
We welcome this opportunity to specifically identify how a competitive tax regime might help address competitive issues. Our members collectively represent the challenges that Canadian industry faces in an increasingly competitive world. We have a high Canadian dollar, sustained high energy prices and intense competition from emerging economies like China and India. While these are external factors, they challenge industry and government to focus internally on measures to adjust to these forces and to allow Canadians to compete in the global marketplace.
Capital is mobile. Production chains are global. Industry needs to do its fair share in terms of business strategies, and government has a role to play in ensuring that its policies and fiscal regulatory framework encourage investment in Canada and equips Canadians to compete in the global marketplace. On this front, much has already been done and is being done. Canada has invested in skills upgrading. Canada has invested in education. Canada is exploring immigration opportunities to address skills shortages. And Canada is investing in infrastructure to facilitate goods movement in global supply chains.
Nevertheless, Canada does not present a clear competitive advantage to potential investors, and as a consequence, we are losing out in attracting the newest and best technologies needed to permit leadership and growth, job creation and environmental performance. What is missing is investment in new equipment, technology, and machinery. Capital investment per worker in Canada is lower than it is in the United States and in other countries in the OECD. Canada has become a net exporter of capital and must compete for investments with other jurisdictions around the world.
Current investment in the manufacturing sector is insufficient to cover assets, retirement, and depreciation. We need to restore Canada as a place to invest in new manufacturing equipment and technologies and secure Canada's role in global supply chains. We need to develop a competitive tax regime and send the right signal to potential investors around the world. We're recommending that we introduce a two-year accelerated capital cost allowance for machinery and equipment, and we're asking that the government schedule a reduction in corporate income tax rates to 17% for all manufacturing and open a clear advantage for Canadians.
Thank you, Mr. Chairman.