Ottawa, March 29, 2012
The Honourable Jim Flaherty, Minister of Finance, today tabled Economic Action Plan 2012, a comprehensive agenda to bolster Canada’s long-term economic strengths and promote job growth.
“In this budget, our Government is looking ahead not only over the next few years but also over the next generation,” said Minister Flaherty. “The reforms we present today are substantial, responsible and necessary. They will ensure that all across government we are focused on enabling and sustaining Canada’s long-term economic growth.”
Economic Action Plan 2012 takes important steps to address the challenges and help take advantage of the opportunities of the global economy, while ensuring sustainable social programs and sound public finances for future generations.
The Government is focused on boosting economic growth and job creation—innovation, investment, education and skills. Economic Action Plan 2012 will support jobs and growth by:
In order to ensure Canada’s social programs are there for when future generations need them, we are taking responsible action to prepare today for long-term demographic pressures. To this end, Economic Action Plan 2012 will:
Economic Action Plan 2012 is our plan for jobs, growth and long-term prosperity. An important part of our low-tax, low-debt plan is returning to a balanced budget in the medium term. Over the past year, we have found fair, balanced and moderate savings measures to reduce the deficit. These measures will achieve ongoing savings of $5.2 billion, representing less than 2.0 per cent of expected federal program spending in 2016–17. Over 70 per cent of the savings found are in operational efficiencies.
“We will stay on course, to keep creating high-quality jobs and long-term economic growth for Canadians,” said Minister Flaherty. “We will not raise taxes. We will maintain our consistent, pragmatic and responsible approach to the economy, and take the necessary next steps to build confidence in our future.”
For further information, media may contact:
Mary Ann Dewey-Plante
Office of the Minister of Finance
Department of Finance
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