Toronto, Ontario, March 30, 2012
The Honourable Jim Flaherty, Minister of Finance, today highlighted key elements of Economic Action Plan 2012 that will provide sound management of public finances and strengthen the Canadian economy by encouraging growth and the creation of high‑quality jobs.
Speaking to the Canadian Club of Toronto, Minister Flaherty said, “Canada must compete within a dynamic and changing global economy. The Government of Canada’s Plan will better position businesses to focus on what they do best—creating jobs and opportunity, from coast to coast to coast.”
One key initiative cited by Minister Flaherty to sustain growth for the long term was intensifying Canada’s pursuit of new and deeper trading relationships.
“In our pre-budget consultations we heard that Canada needs better access to key export markets in order to take advantage of new opportunities,” the Minister said. “Economic Action Plan 2012 will enhance Canada’s trade and investment relationships in large and fast‑growing markets around the world.”
Other key measures highlighted by the Minister included extending the Hiring Credit for Small Business to help defray the costs of hiring new workers, enhancing high-growth companies’ access to venture capital financing, and extending efforts to promote small business innovation.
The Government will also take action to restrain government spending. The vast majority of the savings will come from eliminating waste in the internal operations of government, making it leaner and more efficient.
“Economic Action Plan 2012 will strengthen Canadian businesses’ capability to meet the challenges of the future,” said Minister Flaherty. “It will sustain economic growth, create the high-quality jobs of tomorrow, and deliver continued prosperity for generations to come.”
For further information:
Mary Ann Dewey-Plante
Office of the Minister of Finance
Department of Finance
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