Archived - Creating Jobs and Opportunities for Canadians in 2014

December 31, 2014 – Ottawa, Ontario – Department of Finance

Finance Minister Joe Oliver today highlighted a range of significant economic achievements that the Harper Government has delivered throughout 2014 to support growth, jobs and long-term prosperity. The Canadian economy has posted one of the strongest job creation records in the Group of Seven (G-7) over the recovery, with over 1.2 million jobs created since July 2009.

These achievements include:

• Keeping taxes low for Canadian job creators: According to KPMG, total business tax costs in Canada are now the lowest in the G-7—46% lower than in the United States.
• Fostering trade and Canadian entrepreneurship to ensure that Canadian businesses and investors have the market access they need to succeed in the global economy, by advancing the most ambitious trade expansion plan in Canadian history, including Canada-European Union and Canada-Korea trade agreements.
• Making a significant $5.8 billion investment in infrastructure, building on the $70 billion investment commitment outlined in Economic Action Plan 2013, which includes $53 billion under the New Building Canada Plan. This investment will lead to improvements in border infrastructure, federal laboratories and research facilities, museums, national historic sites, on-reserve schools, parks and marine conservation areas, ships, small craft harbours, transportation assets, and other federal buildings and assets.
• Introducing the Small Business Job Credit, which is expected to save small businesses more than $550 million over the next two years, and will help them defray the cost of hiring new workers and take advantage of emerging economic opportunities.
• Investing more than $1.6 billion over the next five years in new support for research and innovation. This includes the largest annual increase in research support through the granting councils in over a decade, providing stable and predictable funding for leading-edge research, including discovery research funded through core granting council programming.
• Advancing a key element of the Government of Canada’s Venture Capital Action Plan by investing in the Teralys Capital Innovation Fund, the Northleaf Venture Catalyst Fund and the Kensington Venture Fund—new private sector-led “funds of funds” that make resources available for innovative companies across Canada.
• Signing a Memorandum of Agreement to jointly establish a Cooperative Capital Markets Regulatory System with British Columbia, Ontario, Saskatchewan, New Brunswick and Prince Edward Island, which will strengthen Canada’s capital markets by providing better protection to investors, enhancing Canada’s financial services sector and managing systemic risk.
• Attracting investment and supporting lower borrowing costs by confirming that the Government is on track to fulfill its commitment to Canadians to balance the budget in 2015.

• Economic Action Plan 2014
• Budget 2014: Fostering Job Creation, Innovation and Trade
• PM Announces new infrastructure investments across Canada
• Harper Government Introduces Small Business Job Credit
• Governments of Canada and Quebec Invest in New Venture Capital Fund of Funds to Create Jobs and Growth
• Governments of Canada and Ontario Help to Create Jobs and Growth with New Venture Capital Fund of Funds
• Government of Canada Helps to Create Jobs and Growth With Investment in New Venture Capital Fund of Funds
• Cooperative Capital Markets Regulatory System
• Harper Government Releases Economic and Fiscal Update

Nicholas Bergamini
Press Secretary
Office of the Minister of Finance
613-369-5696

Stéphanie Rubec
Media Relations
Department of Finance
613-369-4000