Minister Morneau Joins Victoria Business Leaders to Discuss Competitiveness
August 21, 2018 – Victoria, British Columbia – Department of Finance Canada
Canadian businesses are creating more good, well-paying jobs—helping to strengthen and grow the middle class and build an economy that works for everyone. This track record of success is proof that Canadians are competitive, and have what it takes to succeed.
That's the message Finance Minister Bill Morneau took to Victoria, British Columbia, where today he met with local business leaders at an event hosted by the Greater Victoria Chamber of Commerce.
Talks focused on how the Government and the business community can work together to build a more competitive Canada. While the Canadian economy is doing well—Canada led the G7 in growth last year, and the unemployment rate is at a record low—Minister Morneau recognized that businesses are anxious about what the future holds. The ongoing renegotiation of the North American Free Trade Agreement, recent tariff decisions by the United States, and the potential impact of the recent U.S. tax reform were among the issues discussed.
Today's event is part of a series of meetings that Minister Morneau is holding with business leaders across the country. The feedback received will help inform the Government's responses to immediate challenges, while supporting ongoing efforts to strengthen and grow the economy over the long term.
"Today's meeting is about listening. I want to hear from local business leaders, because their perspective matters. Their experience will help us respond to immediate challenges as we move forward with our long-term plan to create more good, well-paying jobs, and strengthen and grow the middle class. Together, we can continue to grow our economy for the benefit of all Canadians."
- Bill Morneau, Minister of Finance
Business investment growth in Canada has averaged about 9% since the end of 2016. This represents the fastest rate of growth in six years.
According to the Bank of Canada's Business Outlook Survey, business investment intentions are near their highest point since the recovery from the recession of 2008-2009.
To give Canadian businesses access to new markets and the hundreds of millions of customers they represent, and to ensure that the benefits of trade are felt by more people, the Government has secured new trade and investment deals, including the Comprehensive Economic and Trade Agreement with the European Union, and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.
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Office of the Minister of Finance
Department of Finance Canada
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