Scarborough businesses need an economy that works with us. Too much regulation, high taxes and cost of living holds us back.
Coffee is up 76.6 percent over six years, beef 59 percent, mortgage interest 54.6 percent, eggs 40.6 percent, rent 31.5 percent.
Scarborough’s business community has never been stronger in spirit. We are builders, innovators, entrepreneurs and employers who believe in this city and show up every day ready to work. But across every sector, one reality is becoming harder to ignore: businesses are pushing forward, yet the economic environment is pushing back.
From construction and manufacturing to restaurants, retailers and professional services, Scarborough businesses are facing the same three pressures: too much regulation, too much tax burden and a cost of living that is rising far faster than wages or revenue. These challenges are not abstract. They are showing up directly in hiring decisions, expansion plans and the overall confidence of the local economy.
Recent testimony at Parliament’s Finance Committee underlined how difficult the landscape has become nationally. The Parliamentary Budget Officer reported that Canada now has only a 7.5 percent chance of meeting its own fiscal anchor, and productivity in Canada has been declining for 40 years.
At the same time, more than 400,000 young Canadians are searching for full-time work but cannot find it. For Scarborough, one of the youngest and most diverse communities in the country, this represents a tremendous loss of potential.
Rising living costs only add to the pressure. According to Statistics Canada, prices have surged across everyday essentials. Coffee is up 76.6 percent over six years, beef 59 percent, mortgage interest 54.6 percent, eggs 40.6 percent, rent 31.5 percent.
These increases far exceed the Bank of Canada’s inflation target and squeeze both businesses and the families they employ. When people struggle to afford the basics, consumer confidence falls and the entire economy feels it.
But despite these challenges, the path forward is not complicated. Canada has solutions at its fingertips, and Scarborough stands to benefit if we embrace them.
One clear opportunity lies in unlocking our natural resources. Canada sits on some of the world’s most valuable rare-earth minerals, critical metals and energy assets. Developing these responsibly, with modern permitting, clear timelines and value-added processing, would create jobs, lower costs and generate revenue without raising taxes.
Scarborough is home to skilled trades, manufacturers and logistics firms that could support and benefit from renewed national growth.
Another opportunity lies within our own borders. Canada still trades more freely with foreign countries than with other provinces. Breaking down interprovincial trade barriers would boost GDP, streamline supply chains and reduce costs for businesses everywhere, including right here at home.
Finally, smarter regulation and competitive taxation are essential. Small and medium-sized businesses do not want favors, they want clarity, predictability and a fair environment where hard work translates into growth.
Ontario’s recent Buy Ontario Act is a step in that direction, opening new opportunities for local companies to serve our public institutions. With Scarborough’s strong anchor partners, from UTSC and Centennial to our hospitals and schools, this could become a meaningful advantage for our community.
Scarborough businesses continue to show up, invest, hire and build. What we need now is an economic environment that works as hard as we do. With the right policies, Canada can unlock growth, lower costs and create a future where Scarborough thrives.
Scarborough means business, and together, we are ready to rise.
Ryan Somer is President of the Scarborough Business Association
