Washington, D.C., May 11, 2011

Archived - Strong Ties, Canada’s Growing Competitiveness the Focus of Minister of Finance’s Post-Election Washington Trip

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During a visit to Washington, D.C., the Honourable Jim Flaherty, Minister of Finance, today highlighted Canada’s economic advantages and future fiscal plans at a Council of the Americas conference and in meetings with high-ranking Congressional leaders.

“Canada had a number of advantages going into the global economic crisis that helped our country recover better than most,” said Minister Flaherty. “Canada is the only G-7 country to have fully recouped both output and employment losses experienced during the recession. Now that the economic recovery is strengthening, our Government’s economic focus is shifting from protecting jobs and output through temporary direct stimulus, to creating the right conditions for greater long-term jobs and economic growth while at the same time steadily eliminating the deficit. We have taken significant measures to make Canada a better place to do business, and we will continue to enhance our international competitiveness.”

While in Washington, Minister Flaherty met with Senator Jeff Sessions, the Ranking Member of the Senate Budget Committee, Representative Spencer Bachus, Chairman of the House Financial Services Committee, and Representative Paul Ryan, Chairman of the House Budget Committee. The Minister also participated in a luncheon roundtable hosted by Ambassador Gary Doer on the U.S. fiscal situation and outlook.

During his appearance at the 41st Washington Conference on the Americas, Minister Flaherty highlighted a number of measures the Government of Canada has taken to promote long-term economic growth, including lower taxes, the elimination of import tariffs on manufacturing inputs and machinery and equipment, historic investments in public infrastructure, increased support for research and an ambitious free trade agenda. The Minister also met with Luis Alberto Moreno, the President of the Inter-American Development Bank.

For further information, media may contact:

Chisholm Pothier
Director of Communications
Office of the Minister of Finance

Jack Aubry
Media Relations
Department of Finance

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