St. John’s, September 11, 2012
The Honourable Jim Flaherty, Minister of Finance, today told a business audience in St. John’s that, while Canada continues to have strong economic and fiscal fundamentals, Canada’s economy remains vulnerable to global risks.
“While the Canadian economy has achieved the best performance on jobs and growth among
G-7 countries, creating almost 770,000 net new jobs since July 2009, the global economy remains frustratingly fragile,” Minister Flaherty told the St. John’s Board of Trade. “Any potential offshore setbacks could generate serious adverse impacts on Canada. It is for this reason that our Government continues to be vigilant and to take prudent action through our Economic Action Plan.”
Canada continues to work closely with its G-20 partners to advance strong, sustainable and balanced growth. It is also implementing Economic Action Plan 2012, which includes opening new markets, increasing Canadian exports and promoting responsible resource development. These initiatives are of particular importance to Newfoundland and Labrador’s offshore oil and gas sector, and mining industry.
The Harper Government also continues to invest in public infrastructure to support jobs and growth. Newfoundland and Labrador has seen significant federal investment in its airports, ferries, highways, and water and sewer systems. The Harper Government has also committed to provide a loan guarantee for the Lower Churchill clean energy projects.
“While Canada may have its challenges, we will overcome them if all partners in the economy, in both the private and public sectors, take the actions needed to create jobs, growth and long-term prosperity,” said Minister Flaherty. “By staying on track to return to balanced budgets, keeping taxes low and encouraging a more globally competitive economy, our Government is continuing to do its part to build a stronger Canada.”
For further information, media may contact:
Mary Ann Dewey-Plante
Office of the Minister of Finance
Department of Finance
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