No. H 087/08
For release - March 31, 2008
Roberval — The Honourable Lawrence Cannon, federal Minister of Transport, Infrastructure and Communities, and Québec Minister of Economic Development, Innovation and Export Trade and Minister of Tourism Raymond Bachand today announced that the Government of Canada will grant $216.9 million over three years to the Québec government under the new Community Development Trust.
Ottawa recently announced the establishment of the Community Development Trust, with a budget of $1 billion over three years, which will enable the provinces and territories to help communities and workers affected by economic difficulties stemming from current instability on world financial and commodity markets.
"Since it was elected in 2006, our government has adopted a number of concrete measures to support businesses and workers in order to prepare for the future. We are pursuing these initiatives so that regions such as Saguenay-Lac-Saint-Jean become more economically robust and to improve the situation of workers who are hard hit by worldwide economic instability," noted Minister of Transport, Infrastructure and Communities Lawrence Cannon.
The Québec government has established a number of priorities to help workers, communities and businesses that must adapt to a radically changing economic setting and, in agreement with the federal government, intends to use the federal funding to:
- intervene actively in communities affected by the crisis in the forestry and manufacturing sectors by supporting local economic diversification projects;
- support major strategic investment projects that will enable Québec to focus on the promising high-technology sector;
- bolster training and reclassification measures to help workers affected by plant closings in the forestry and manufacturing sectors; and
- support manufacturing firms through the measures in the Québec manufacturing sector action plan.
"Manufacturing industries are essential to the Québec economy. They create wealth and provide jobs in all regions of Québec. In light of stiffer competition and the Canadian dollar's rapid, marked rise, governments must intensify their initiatives to help these sectors adapt. The federal government's financial contribution will support the measures that the Québec government has already announced in the manufacturing and forestry sector action plans, which will help us attain our objectives," added Raymond Bachand, Minister of Economic Development, Innovation and Export Trade, Minister of Tourism and Chair of the Québec government's Economic Development Committee.
The Québec government has agreed to administer the funds that it receives and to comply with Canada's obligations pursuant to the North American Free Trade Agreement, the Softwood Lumber Agreement and its membership in the World Trade Organization.
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