Edmonton, Alberta, April 12, 2012

Archived - Economic Action Plan 2012: Creating Jobs and Long-Term Economic Growth in Western Canada and Nationwide

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The Honourable Jim Flaherty, Minister of Finance, today highlighted key elements of Economic Action Plan 2012 that will create jobs, growth and long-term prosperity in Western Canada and across the country.

Speaking to the Edmonton Chamber of Commerce, the Minister noted that businesses in the resource sector must currently navigate a maze of overlapping and complex regulatory requirements and red tape. “We will reform the regulatory system in this sector so that reviews are conducted in a timely and transparent manner, while safeguarding the environment,” said Minister Flaherty.

Economic Action Plan 2012 will also invest $54 million over two years to support more effective project approvals through the Major Projects Management Office initiative. In addition, Western Economic Diversification Canada will be launching the Western Innovation Program—a new initiative that will provide financial support to innovative small and medium-sized enterprises in Western Canada.

“Canada’s businesses—entrepreneurs and innovators—have proven time and again that they are up to the task, if they are given the opportunity,” said Minister Flaherty. “Through Economic Action Plan 2012, our Government is ensuring that they will have all the opportunity needed to flourish.”

He also stressed that better utilizing Canada’s workforce and making the labour market more adaptable will help ensure long-term economic growth. Through measures such as the extension of the Hiring Credit for Small Business, which will help defray the costs of hiring new workers, the Plan will support job creation and create opportunities for Canadians.

“Economic Action Plan 2012 contains a host of benefits for this part of the country. But its reach is far wider, and its true value will be felt in every region in Canada,” said Minister Flaherty. “It will sustain economic growth, create high-quality jobs, and deliver continued prosperity for generations to come.”

For further information, media may contact:

Mary Ann Dewey-Plante
Press Secretary
Office of the Minister of Finance

Jack Aubry
Media Relations
Department of Finance

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