Calgary, March 30, 2012

Archived - Economic Action Plan 2012 to Support Jobs and Opportunities

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The Honourable Ted Menzies, Minister of State (Finance), today spoke in Calgary about how Economic Action Plan 2012 will position Canada’s economy for sustained economic growth and job creation, and will secure the country’s prosperity for today and for generations to come.

Speaking just outside the new Bow Building, Minister Menzies said that Economic Action Plan 2012’s support for responsible resource development is key to creating high-quality jobs today and for the future. To that end, he noted the Government will improve the review process for major economic projects to make it more timely and transparent while protecting the environment, and introducing legislation to modernize the regulatory system to realize our objective of “one project, one review.”

Minister Menzies went on to state that “Ultimately, however, our success as a nation rests upon maximizing the power of our greatest asset—our people— and unleashing their full productive potential. Accordingly, Economic Action Plan 2012 invests significantly in training and infrastructure that will support job creation and provide greater opportunities for under-represented groups in the workforce.”

Economic Action Plan 2012 will:

  • Make a number of targeted, common-sense changes to make Employment Insurance (EI) a more efficient program that is focused on job creation, removing disincentives to work, supporting unemployed Canadians and quickly connecting people to available jobs.
  • Extend the temporary EI Hiring Credit for Small Business for one year to reduce the cost of hiring new workers.
  • Build a fast and flexible economic immigration system whose primary focus is on meeting Canada’s labour market needs.
  • Invest an additional $30 million over three years in the Opportunities Fund to enable more Canadians with disabilities to obtain valuable work experience.
  • Allocate $50 million to the Youth Employment Strategy to assist more young people in gaining tangible skills and experience and connecting them with jobs in fields that are in high demand.
  • Fund the extension and expansion of the successful ThirdQuarter project, which helps employers find workers over 50 who have the skills they are seeking.
  • Expand opportunities for Aboriginal peoples to fully participate in the labour market as the youngest and fastest-growing segment of the nation’s population.

“With Economic Action Plan 2012, the opportunities provided to Canadians and to our nation’s economy are significant and far-reaching,” said Minister Menzies. “And when such opportunities are seized, Canadians succeed. And that’s what our transformative economic plan is all about.”

For further information, media may contact:

Bram Sepers
Office of the Minister of State (Finance)

Jack Aubry
Media Relations
Department of Finance

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