The Honourable Keith Ashfield
Minister of Fisheries and Oceans
Minister of Atlantic Gateway
April 9, 2013
Saint John, New Brunswick
Speaking Notes:
Thank you for the introduction; thank you to the Saint John Board of Trade for its kind invitation; and thank you all for coming.
I am very pleased to be here to share with you my vision for the future of this great Province.
As business and community leaders of New Brunswick, I know you share my optimism in the tremendous potential of New Brunswick.
The Saint John Region can be proud of its long tradition of being a gateway to the world, not just for the province, but also for the country.
Its strong shipping and transportation capacity, skilled work force, and industrial base, makes it a cornerstone of the provincial economy.
AND, the Fundy Region has much more than that to offer. Just ask the almost 2 million passengers that have cruised into your beautiful harbour. From Saint Andrews, to Sussex, to Saint Martins and the Fundy Trail, the world is getting to experience what we have known all along; NB is a wonderful place in which to live and work.
And speaking of your harbour, as Minister for the Atlantic Gateway, I was pleased to play a role in the phenomenal growth of your commercial port. When I look down Water Street, and see the great additions of your two new terminals, and your harbour full of ships and commerce, as a New Brunswicker, I am immensely proud.
Although our province faces some real challenges at the moment, when viewed in an international context, we have much to be thankful for.
While many of our international allies and trading partners continue to struggle with crushing debt levels, and the effects of the economic downturn; we in Canada have emerged as a model of stability.
Our fiscal position continues to be the envy of the G-7 and our economy has actually expanded for 6 straight quarters.
So, as a country, we have much to be proud of.
I'd like to take some time today to talk about how our Province of New Brunswick, fits into the larger picture of economic growth in Canada, and some of the incredible opportunities, that, – with work and commitment – could be ours to capture.
As you may have seen in the media, I was at an important event a week ago today at the Irving refinery; together with Premier Alward, MPs Weston, Moore and Williamson and a number of Provincial MLAs; to mark an important milestone in the process of bringing a visionary pan-Canadian project right here to Saint John - the TransCanada pipeline.
If this project proceeds, this 4,400km line from Western Canada to Eastern Canada; could indeed be the modern equivalent of the railway that helped build and connect our nation shortly after confederation.
Last week, TransCanada announced an important step in the process of establishing a pipeline to bring crude oil from Western Canada to Eastern Canada. While this is not yet a sure thing, TransCanada has determined that there is sufficient market support to seek firm commitments - through a binding open season - from interested parties for a pipeline from West to East and, potentially, right here in Saint John.
If this proceeds, it represents a significant economic growth opportunity for this province. It is indeed encouraging news for families and communities right here and across Canada.
Global energy demands are expected to increase by about 36% from 2010 to 2035 and I want to see Canada - from our East Coast - positioned to support that demand.
Our government has long recognized that Atlantic Canada is uniquely positioned to capture a growing portion of global trade and transport. That is why the Federal Government, has invested over a quarter of a billion dollars in transportation infrastructure throughout the region. This has all been done through the Atlantic Gateway initiative, of which I am proud to serve as Minister.
Our region has a modern, competitive and integrated transportation system.
Our geographic positioning is a significant competitive advantage, as Ports like Saint John are strategically located on the shortest maritime routes from North America; to Europe; to Asia via the Suez Canal; and to Latin America; which currently boasts some of the fastest growing economies in the world.
As my Chief of Staff, and your former Port Chairman, constantly reminds me, Saint John is just one nautical mile further than Santos Brazil to New York, and without all the congestion.
Countries like India - where the gap between the supply and demand for energy is increasingly widening - are looking to Canada's East Coast to deliver. And, ladies and gentlemen, our Coast can deliver.
As a government, it is our role to ensure a favourable business climate for the economy to grow in a responsible way. To do this, we are keeping taxes low, ensuring a streamlined and strong regulatory system is in place, and building Canada's relationships with growing energy markets.
Over the past several years, our government has demonstrated stringent support for the responsible development of our natural resources.
We want to see Canadian refineries processing substantially more Canadian oil, generating Canadian jobs and making our country less reliant on more expensive foreign oil.
It is notable that, because of a lack of pipeline capacity, Canadian oil is selling at a much lower price compared to international competitors. Indeed, some $50 million dollars a day is lost to the Canadian economy.
$50 million dollars lost to the Canadian economy every day translates to a significant loss of potential tax revenue to the government. That means billions of dollars less every year to fund critical social programs like health care and education.
And we are working hard – with the help of our colleagues in the Provincial government – to ensure that economic growth potential is realized.
Ladies and Gentlemen, we know that in uncertain global economic times - such as those we have been experiencing for a few years now - the most important contribution a government can make is to find ways to boost growth, build up confidence and to maintain a sound fiscal position.
In the aftermath of the fallout from the deepest recession in a generation, returning to balanced budgets is crucial. We are taking responsible steps now, so we won't have to take more extreme measures like other countries have, to keep their financial systems afloat.
Every Canadian family knows that, when expenses outstrip income, the future of the whole family is at risk.
We will not put the future of the Canadian family at risk by spending recklessly.
In fact, our most recent Budget tabled by my colleague the Honourable Jim Flaherty - Economic Action Plan 2013 - contains the smallest increase in discretionary spending in nearly 20 years.
Through our plan to balancing the books, will not raise taxes and we will not cut major transfers to seniors, pensions, children, or families.
And we will also not reduce transfers to other levels of government who rely on that funding for health care, education, social services, and other services Canadians count on.
But we will continue to invest where it counts – like in infrastructure.
For example, municipalities have asked us to index the Gas Tax Fund. That, combined with an incremental GST Rebate for Municipalities, means that we can invest $32B over 10 years as part of the Community Improvement Fund. This will help municipalities build roads, public transit, recreational facilities and other community infrastructure
We have also set aside $14B for a new Building Canada Fund to support major economic projects of national, regional or local significance – like the investment our government recently made in the Saint John Harbour Bridge.
In addition, through Canada's Economic Action Plan 2013, we have allocated $1.25B to fund public, private partnerships in NB and across Canada.
This long-term, predictable funding represents the largest and longest federal infrastructure investment in Canadian history.
I know that Premier Award's provincial team also recognizes that the benefits of the pipeline proposal, which coupled with the strength of our Provinces transportation infrastructure, are a powerful combination for future growth.
So today, I ask that you share a vision with me. One where New Brunswick and Saint John facilitates an energy powerhouse; one where the Atlantic Gateway is a critical Portal to North America and the world, with all the ancillary spin offs of manufacturing and distribution centers; benefits that come with being strategically positioned in the supply chain.
As your Regional Minister in the Federal Cabinet, together with my hardworking colleagues, we believe in the opportunity ahead, and are committed to ensuring it is fully realized. I firmly believe we are at the cusp of some wonderful developments.
Together, and with your help, we can ensure our great potential is fully realized. I look forward with excitement to the opportunity ahead, and trust you share my vision. I thank you for your kind attention today, and look forward to our continued work together.
