Compas Poll / Survey

The CEOs and business leaders on the COMPAS panel seem more intensely concerned about the decline of manufacturing in the country than in the risk of serious fallout from U.S. economic troubles. A near majority (46%) believe that our country is more immune to the U.S. downturn than we have been in the past. This compares to 22% who believe that we are less immune than in the past and 33% who believe that we will be as affected as always. Thus, the burden of opinion is in the direction of less impact than normal but opinion is nonetheless divided.

Opinion is not divided about the harm to Canada resulting from the decline of manufacturing. Almost four-fifths (79%) perceive harm. Only 13% see no harm, believing implicitly that Canada’s loss of manufacturing and increased reliance on the sale of appreciating resources represents a gain rather than a loss for the country.

Panelists have historically been anti-interventionist, disinclined to see merit in government efforts to manage or micro-manage economies. But panelists’ concerns about the decline of manufacturing are so profound that the panel as a whole does not oppose government intervention. Panelists are essentially divided equally on the matter of whether “the federal government should step in to help the manufacturing sector because of the dangers of letting manufacturing decline any further.” A slim majority (51%) actually opposes the idea that “The federal government should not intervene to help the manufacturing sector because of the costs of doing so.”

In the eyes of the panel, by far the most effective action by government would be to reduce taxes affecting manufacturing processes and companies.

These are the key findings from this past week’s Internet survey of CEOs and business leaders on the COMPAS panel. The weekly business survey is undertaken for Canadian Business magazine under sponsorship of BDO Dunwoody LLP.