Archived - Minister of State (Finance) Highlights Key Measures in Economic Action Plan 2014
Economic Action Plan 2014 will help businesses create jobs and keep the economy growing, and confirms the return to balanced budgets in 2015
February 18, 2014 – Edmonton, Alberta – Department of Finance
Speaking to the Alberta Chamber of Commerce on a teleconference call, Minister of State (Finance) Kevin Sorenson, Minister of Health Rona Ambrose, and Members of Parliament Mike Lake and the Honourable Rob Merrifield today highlighted some of the key measures in Economic Action Plan 2014 that will benefit Canadian businesses in Alberta and across Canada.
These measures include reducing the tax compliance and regulatory burden for small and medium-sized businesses; strengthening Canada’s intellectual property regime to reduce the administrative burden for innovative businesses; developing a “Made-in-Canada” consumer awareness campaign; reducing barriers to internal trade; and investing in key infrastructure projects to improve the flow of goods and services.
Minister Sorenson noted that business investment has fuelled growth over the recovery and Canada’s business investment performance has been by far the strongest in the Group of Seven (G-7) during the recession and recovery.
Economic Action Plan 2014 is continuing to help Canadian businesses by:
- Not introducing new taxes on business.
- Building on the work of the Red Tape Reduction Commission by reducing the tax compliance and regulatory burden for small and medium-sized businesses.
- Further reducing barriers to the international and domestic flow of goods and services.
- Moving forward with the planning for and construction of a new Windsor-Detroit International Crossing to improve the flow of people and goods between Canada and the United States.
- Creating the new Canada First Research Excellence Fund with $1.5 billion in funding over the next decade to help Canada’s post-secondary institutions excel globally in research areas that create long-term economic advantages for Canada.
- Modernizing regulation and legislation to better protect investors and taxpayers, enhance Canada’s financial services sector and support efficient capital markets.
“Canada’s Economic Action Plan is working and in 2014 we will maintain our focus on jobs and economic growth, underpinned by our ongoing commitment to keep taxes low and balance the budget in 2015. In moving our plan forward, we will continue to consult with Canadians and Canadian businesses on how Economic Action Plan 2014 can advance the economic priorities that matter most to them.”
- Kevin Sorenson, Minister of State (Finance)
Office of the Minister of State (Finance)
Department of Finance