Archived - Minister Oliver Addresses Kitchener-Waterloo Chamber of Commerce
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Creating jobs, growth and long-term prosperity remains Government’s top priority
August 18, 2014 – Kitchener, Ontario – Department of Finance
In a speech to the Greater Kitchener-Waterloo Chamber of Commerce, Finance Minister Joe Oliver celebrated the Waterloo region as a “crown jewel of Canadian innovation” and outlined the Harper Government’s Economic Action Plan—creating jobs, growth and long-term prosperity across Ontario.
Minister Oliver emphasized the foundation of the Government’s plan: keeping taxes low and returning to balanced budgets in 2015. Once the budget is balanced, the Government’s first priority will be to provide tax relief for hard-working Canadian families.
Minister Oliver is touring Kitchener, London and Guelph this week to talk to Canadians about the state of our economy—our successes, challenges and opportunities—and to solicit their ideas ahead of next year’s federal budget.
- Canada has created over 1.1 million net new jobs since the height of the recession—one of the strongest job creation records in the Group of Seven (G-7).
- The overall federal tax burden is at its lowest level in more than 50 years.
- In 2013, Canada leapt from sixth to second place in Bloomberg’s ranking of the most attractive destinations for business. Canada’s total business tax costs are now the lowest in the G-7 and 46% lower than those in the United States.
- KPMG rates Canada as the most tax competitive country for business globally.
- A recent New York Times article reported that “after-tax middle-class incomes in Canada—substantially behind in 2000—now appear to be higher than in the United States.”
- The New Building Canada Plan will invest approximately $11 billion in dedicated federal funding in Ontario, including more than $2.7 billion under the New Building Canada Fund and an estimated $8.12 billion under the federal Gas Tax Fund.
“Canada is on the right track. We are creating growth, lowering taxes and returning to balanced budgets. Once we balance the budget in 2015, our first priority will be to provide tax relief for hard-working Canadian families. We want you to keep more of the money you work so hard to earn, so you can decide how to spend and save it.”
- Joe Oliver, Minister of Finance
Director of Communications
Office of the Minister of Finance
Department of Finance