Archived - Harper Government Consulting With Small and Medium-Sized Businesses in Melfort to Ensure Canada’s Economy Remains Strong
October 18, 2014 – Melfort, Saskatchewan – Department of Finance
Minister of State (Finance) Kevin Sorenson and Randy Hoback, Member of Parliament (Prince Albert), met with members of the Melfort & District Chamber of Commerce today to discuss ways the Government and businesses can work together to build a stronger economy.
Minister Sorenson provided an update on the economy, financial literacy initiatives and the Government’s plan to return to balanced budgets. He also consulted businesses on how to further reduce red tape, enhance private sector growth, break down internal trade barriers and improve overall competitiveness.
Feedback from stakeholders and communities across the country helps the Government set policies that will continue to support families, communities and businesses so that all Canadians benefit from a strong economy as the federal budget returns to balance in 2015.
- The Canadian economy has posted one of the strongest job creation records in the Group of Seven (G-7) over the recovery, with nearly 1.2 million jobs created since July 2009.
- Real gross domestic product is significantly above pre-recession levels—the best performance in the G-7.
- In 2013, Canada leapt from sixth to second place in Bloomberg’s ranking of the most attractive destinations for business.
- According to KPMG, total business tax costs in Canada are the lowest in the G-7 and 46% lower than those in the United States.
- Employees and employers in federally regulated industries now have access to Pooled Registered Pension Plans. Millions of small business owners and their employees will have access to a private, low-cost pension plan once the framework is in place in each province.
- Recognizing that Canadians’ financial health affects the country’s economy, the Government is working to improve Canadians’ financial literacy. In April 2014, the Government appointed Canada’s first Financial Literacy Leader and is working with her to develop a national strategy on financial literacy.
- The first phase of this strategy focused on seniors and was released on October 16, 2014. The second phase of consultations has begun and focuses on low-income Canadians, Canadians with disabilities, newcomers to Canada and Aboriginal peoples. A third phase, focusing on children, youth and adults, will begin at a later date in 2014. The complete national strategy is expected to be released in 2015.
Mark Glendenning
Office of the Minister of State (Finance)
613-369-5696
Jack Aubry
Media Relations
Department of Finance
613-369-4000
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