Mississauga, February 22, 2011
2011-015

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Harper Government’s Low-Tax Plan Creating Jobs and Growth

The Honourable Ted Menzies, Minister of State (Finance), today highlighted the economic growth and jobs created by the Harper Government’s low-tax plan. The Government emphasized its support for keeping taxes low and freer trade, which open markets and attract investment.

Speaking at Multiurethanes in Mississauga, Minister Menzies said, “The economy remains our Government’s number one priority. We are keeping taxes low for job creators to grow our economy and create jobs for Canadian workers.”

The Canadian Manufacturers and Exporters say that lower business taxes mean more jobs and increase the per capita income of Canadian workers.

“Over the next couple of years, the jobs created as a result of federal and provincial tax cuts will lead to further investment in new products, new technologies, research and development, machinery and equipment,” said Jayson Myers, President and CEO of the Canadian Manufacturers and Exporters.

Minister Menzies said, “Through our consultations with Canadians across the country, we have repeatedly heard that if we want more jobs, higher wages and an improved standard of living, Canada needs to be the most attractive place for job creators to do business and invest.”

“Keeping taxes low for job creators is one of the best ways to grow our economy over the long term, as it increases the incentive to invest and accumulate capital, and leads to a higher capacity to produce goods and services.”

The Harper Government is highlighting the advantages of Canada’s open markets and low taxes for job creators, which encourage global business investment. These advantages include:

  • the lowest overall tax rate on new business investment among the major developed economies (G-7);
  • the lowest debt and deficit of those major economies;
  • the world’s soundest banking system, according to the World Economic Forum;
  • among the fastest economic growth in the G-7, which is projected to continue into the future, according to the International Monetary Fund;
  • the most skilled workforce, with the highest proportion of post-secondary graduates in the Organisation for Economic Co-operation and Development;
  • eliminating tariffs on manufacturing inputs and equipment, which will make Canada the only tariff-free zone for industrial manufacturers in the G-20 by 2015;
  • the most generous research and development tax incentives in the industrialized world; and
  • an outstanding quality of life, with safe streets, a high standard of living, universal health care, a sound educational system and a beautiful natural environment.

“We are ensuring that hard-working Canadian entrepreneurs have greater opportunities to grow their businesses by reinvesting in them. That’s helping businesses create more and better-paying jobs, which is good news for the economy and good news for Canadian families,” said Minister Menzies.

Since taking office in 2006, the Harper Government has pursued an ambitious free trade agenda. In just five years, Canada has concluded free trade agreements with eight countries: Colombia, Peru, Jordan, Panama and the four member states of the European Free Trade Association: Iceland, Liechtenstein, Norway and Switzerland, and is currently in negotiations with close to 50 countries. The Harper Government is also negotiating economic partnerships with two of the world’s largest economies: the European Union and India.

For more information on Canada’s Economic Action Plan, visit www.actionplan.gc.ca.

For further information, media may contact:

Annette Robertson
Press Secretary
Office of the Minister of Finance
613-996-7861

Jack Aubry
Media Relations
Department of Finance
613-996-8080

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