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

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October 17, 2014 – Prince Albert, Saskatchewan – Department of Finance

Minister of State (Finance) Kevin Sorenson and Randy Hoback, Member of Parliament (Prince Albert), met with members of the Prince Albert & District Chamber of Commerce 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 nearly 1.2 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, total business tax costs in Canada are the lowest in the G-7 and 46% lower than those in the United States.
  • Employees and employers in federally regulated industries now have access to Pooled Registered Pension Plans. Millions of small business owners and their employees will have access to a private, low-cost pension plan once the framework is in place in each province.
  • Recognizing that Canadians’ financial health affects the country’s economy, 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.
  • The first phase of this strategy focused on seniors and was released on October 16, 2014. The second phase of consultations has begun and focuses on low-income Canadians, Canadians with disabilities, newcomers to Canada and Aboriginal peoples. A third phase, focusing on children, youth and adults, will begin at a later date in 2014. The complete national strategy is expected to be released in 2015.

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 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 in Prince Albert to create jobs and grow the economy, which is vital to promoting long-term prosperity. I am pleased that Minister Sorenson could meet with our local business leaders to find out how our Government and the private sector can work together to create jobs and opportunities for this community and across the country.”

- Randy Hoback, Member of Parliament for Prince Albert (Saskatchewan)

Media Contacts

Mark Glendenning
Office of the Minister of State (Finance)
613-369-5696

Jack Aubry
Media Relations
Department of Finance
613-369-4000

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