Archived - Harper Government Consulting With Small and Medium-Sized Businesses in Richmond Hill to Ensure Canada’s Economy Remains Strong

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August 19, 2014 – Richmond Hill, Ontario – Department of Finance

Minister of State (Finance) Kevin Sorenson and Costas Menegakis, Member of Parliament for Richmond Hill, met with business leaders in Richmond Hill, Ontario, today to discuss ways the Government and businesses can work together to build a stronger economy.

Minister Sorenson provided an update on the economy, financial literacy initiatives and the Government’s plan to return to balanced budgets. He also consulted businesses on how to further reduce red tape, enhance private sector growth, break down internal trade barriers and improve overall competitiveness.

Feedback from stakeholders and communities across the country helps the Government set policies that will continue to support families, communities and businesses so that all Canadians benefit from a strong economy as the federal budget returns to balance in 2015.

Quick Facts

  • The Canadian economy has posted one of the strongest job creation records in the Group of Seven (G-7) over the recovery, with more than 1 million jobs created since July 2009.
  • Real gross domestic product is significantly above pre-recession levels—the best performance in the G-7.
  • In 2013, Canada leapt from sixth to second place in Bloomberg’s ranking of the most attractive destinations for business.
  • According to KPMG, Canada’s total business tax costs are now the lowest in the G-7 and 46% lower than those in the United States.
  • With the introduction of the Pooled Registered Pension Plan, millions of small business owners and their employees will have access to a private, low-cost pension plan.
  • Recognizing that Canadians’ financial health affects the country’s financial health, the Government is working to improve Canadians’ financial literacy. In April 2014, the Government appointed Canada’s first Financial Literacy Leader and is working with her to develop a national strategy on financial literacy, with the first phase focused on seniors.

Quotes

“Our Government supports businesses and Canadians by keeping taxes low, cutting red tape, offering low-cost pension options to small businesses and the self-employed, and improving financial literacy. Together with our Government’s commitment to return to balanced budgets in 2015, these measures will further strengthen Canada’s business climate and economy.”

- Kevin Sorenson, Minister of State (Finance)

“Our Government is proud to be working with small and medium-sized businesses like those here in Richmond Hill to create jobs and grow the economy, which is vital to building long-term prosperity in this community and across the country. I am pleased that Minister Sorenson has come to Richmond Hill to hear from our local business leaders about ways we can continue to work together to create jobs and opportunities for this community and all Canadians.”

- Costas Menegakis, Member of Parliament for Richmond Hill

Media Contacts

Meagan Murdoch
Communications
Office of the Minister of State (Finance)
613-996-7861

Jack Aubry
Media Relations
Department of Finance
613-996-8080

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