Mr. Chair, I thank the member for Bruce—Grey—Owen Sound for the exceptional job he has been doing in Ottawa on behalf of his constituents. I also to thank the member for Edmonton—Leduc for raising this issue with me, as well.
As the member noted, our government has been taking important steps to assist the manufacturing sector, not through the use of ineffective and short term band-aid type solutions but rather longer term measures to create a more productive, competitive business environment, including the historic tax relief of nearly $200 billion and a stimulus that has been created for business, particularly in this time of economic slowness.
In Canada, the corporate tax reductions that were in the fall economic statement were described by the Canadian Manufacturers & Exporters in this way, “important to the long-term competitiveness of the Canadian economy”.
In that spirit tonight and with respect to the question the member has posed, I confirm that forklifts used for manufacturing or processing will be eligible for the accelerated capital cost allowance treatment that was announced in budget 2007 and extended in budget 2008.
Specifically, forklifts used in manufacturing or processing acquired after March 18, 2007, will qualify for the temporary manufacturing and processing incentive. This will ensure that forklifts receive the same accelerated capital cost allowance rate as other manufacturing related machinery.
Again, I thank the member for Bruce—Grey—Owen Sound for bringing this matter to my attention.