NATI Offers Revenue and Expenditure Insights to the Government of NL Renewal Initiative
Posted Wednesday, February 17, 2016
February 17, 2016
NATI offers both revenue and expenditure insights to Province
Chris Dillon, Chair of the Newfoundland and Labrador Association of Technology Industries (NATI), outlined the organization's priorities for Budget 2016 and beyond at the Government Renewal Initiative consultation last night.
"The province's technology sector includes over 170 companies, over 4,000 employees and over $1.6 Billion in annual revenues," said Mr. Dillon. "The technology business is complementary and collaborative - one success creates more successes. Technology is sustainable, scalable and successful."
At the consultations, NATI offered a number of suggestions for the new government to consider as it addresses a challenging economy and a difficult fiscal situation.
"Immediate action to set a vision and develop a sector plan is absolutely necessary," said Mr. Dillon. "The revenues our members make translate into approximately one quarter-billion in provincial taxes each year. We want to be a $4 Billion industry or, put another way, a $550-600 Million taxpayer."
In addition to a vision and plan, on behalf of NATI members, Mr. Dillon advocated that Budget 2016 should include the following near-term, specific actions:
- Set a goal of at least $10 million per year in savings due to technology integration and enhancements in the public service, including health care and education; and,
- Commit to open data to enhance the flow of information from government to the private sector; in particular, publish information on health and education to allow analysis to find savings within these multi-billion dollar public services.
"While the technology industry brings more revenue to this province than the fisheries, and more than tourism, there is a large growth opportunity" said Mr. Dillon. "At the same time, technology and innovation can strengthen business, industry and our government. There is a clear case for investment in a sector plan that will help more than double our sustainable contribution to jobs and government revenues. Our sector needs it, and we can deliver sustainable tax revenues and employment opportunities in areas that don't have to compete with one another for finite resources - instead, we can collaboratively create new products and services that compete globally."