Archived - The Next Chapter in Canada’s Economic Success
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April 7, 2014 – Toronto, Ontario – Department of Finance
Speaking to the Canadian Club of Toronto in his inaugural speech as Finance Minister, the Honourable Joe Oliver today reaffirmed the Harper Government’s commitment to balanced budgets as the foundation for advancing its proven record of creating jobs and growth for hard-working Canadian families.
- Canada has enjoyed the strongest employment performance in the Group of Seven (G-7) since 2006.
- Canadian families in all income groups have benefitted from this strength, with tax cuts for an average family of four of close to $3,400 and a more than 45% increase in Canadian household net worth.
- Canada has the lowest total government net debt burden of any G-7 country. The federal government’s deficit is expected to decline to $2.9 billion in 2014–15, with a surplus of more than $6 billion expected in 2015–16.
- 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 G-7 over this year and next.
“Since the recession, we have had the strongest job creation record in the G-7—better than the US, better than the UK, and better than Germany. In fact, the Canadian economy has created over 1 million net new jobs since 2009.”
“A strong, vibrant, growing economy generates tax revenues—without having to raise tax rates. This revenue is used to pay for important social programs such as health care, education, retirement benefits, and financial support for families. These are programs that you and I rely on and help make Canada the great country it is. At the end of the day, economics is about people, our standard of living and our quality of life.”
- Joe Oliver, Minister of Finance
Director of Communications
Office of the Minister of Finance
Department of Finance