Archived - Minister of Finance Highlights Key Government Initiatives to Strengthen Southern Ontario’s Economy
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Economic Action Plan 2014 supports businesses and communities
September 5, 2014 – Ajax, Ontario – Department of Finance
Speaking to the Chambers of Commerce and Boards of Trade of the Regional Municipality of Durham, a part of the Greater Toronto Area, Finance Minister Joe Oliver today highlighted some of Economic Action Plan 2014’s key initiatives to help achieve continued prosperity in southern Ontario. He also reaffirmed the Government of Canada’s top priority of creating jobs and economic growth through low taxes and enhanced trade, while remaining on track for a balanced budget in 2015.
- Both the International Monetary Fund and the Organisation for Economic Co-operation and Development expect Canada to be among the strongest growing economies in the Group of Seven (G-7) over this year and next.
- Southern Ontario is home to a third of the nation’s total population, and accounts for more than a third of national employment and annual economic output.
- From February 2006 to January 2014, the Harper Government has invested over $4 billion in infrastructure projects in the Greater Toronto Area.
- The Automotive Innovation Fund was provided with $1 billion since its launch in 2008 to support long-term investments key to the automotive industry and strategic research and development projects to build innovative, greener, more fuel efficient vehicles.
- Since its creation in 2009, the Federal Economic Development Agency for Southern Ontario has invested almost $1.2 billion, resulting in partnerships with 5,300 organizations and more than $1.5 billion in additional leveraged investments almost exclusively from non-government sources.
“Canada is on the right track. We are creating growth, lowering taxes and returning to balanced budgets. Our Government’s top priority is to grow the economy and create jobs, a commitment our Government fully intends to honour. Based on our Economic Action Plan, we will secure lasting, long-term economic prosperity—the kind that our children and grandchildren can rely on.”
- Joe Oliver, Minister of Finance
Director of Communications
Office of the Minister of Finance
Department of Finance