Archived - Economic Action Plan 2014: Securing Canada's Success for Today and Future Generations
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February 14, 2014 – Edmonton, Alberta – Department of Finance
Minister of State (Finance) Kevin Sorenson today spoke to guests of the Edmonton Chamber of Commerce about how Economic Action Plan 2014 (EAP 2014), with its focus on returning to balanced budgets and promoting jobs and economic growth, will help ensure Canada’s long-term prosperity.
Minister Sorenson emphasized EAP 2014’s focus on creating the conditions for businesses to succeed through low taxes and minimal red tape. The Plan proposes to reduce the maximum number of employer source deduction payments that more than 50,000 businesses have to prepare and submit to the Canada Revenue Agency, eliminating the requirement for more than 800,000 payments in the process.
The Minister also highlighted EAP 2014 initiatives supporting trade and investment as fundamental contributors to Canadian businesses’ success. For example, the Government will work to develop an Internal Trade Barriers Index to help identify measures that restrict trade within Canada and help all jurisdictions focus on priority areas for reform. Given the important contribution Canada’s resources will make to Canada’s future prosperity and security, EAP 2014 also includes measures to support the timely review of major pipeline projects.
- Since the beginning of the recovery, the Canadian economy has continued to create jobs, with over 1 million more Canadians working today than during the worst part of the recession—the best job creation record of any Group of Seven (G-7) country over the period.
- Despite significant global weakness emanating in particular from the United States, our largest trading partner, the Canadian economy has continued to expand modestly, enjoying one of the best performances among G-7 countries over the recovery.
- With EAP 2014, the Government is continuing to pursue the objectives of job creation and economic growth that have underpinned the Economic Action Plan since its inception in 2009, while remaining on track for balanced budgets in 2015–16.
“Where other countries continue to struggle, our Economic Action Plan has helped Canada and Canadians continue to succeed. By returning to balanced budgets, promoting jobs and economic growth, and supporting families and communities, EAP 2014 will help secure our success for today and future generations.”
“As entrepreneurs and business persons—as Albertans—you have been a tremendous inspiration and positive force for change in Ottawa, in driving Canada’s economy forward, and helping us reach the goal of balanced budgets. I hope you see a reflection of yourselves in this week’s federal budget.”
- Kevin Sorenson, Minister of State (Finance)
- Backgrounder: The Road to Balance
- Backgrounder: Supporting Families and Communities
- Backgrounder: Jobs and Growth
Office of the Minister of State (Finance)
Department of Finance