Swift action by Government boosting Canadian economy

Jun-12-09

Ottawa- In a report to Canadians, the Harper Government outlined how in a mere 72 days, 80 per cent of this year’s stimulus initiatives are either flowing or committed to specific projects and initiatives, a pace Chilliwack-Fraser Canyon MP, Chuck Strahl said is unprecedented.      

“Swift action by our government is boosting the economy through tax relief, enhanced employment insurance benefits and by breaking ground on major job creating projects,” said Strahl.  

Measures of the Economic Action Plan already being implemented include:

• permanently reducing the tax burden on Canadians;
• providing tax relief and improved access to financing for Canadian households and businesses; 
•  assisting unemployed workers through extended EI benefits and improved skills training;
• supporting home ownership and creating jobs through housing construction;
• creating jobs through a massive injection of infrastructure spending;
• supporting the industries and communities hardest hit by the global recession; and 
•  investing in the jobs of tomorrow through new supports for research and technology.  

Besides outlining how quickly the Government has been able to implement its stimulus plan, the second report to Canadians on Canada’s Economic Action Plan highlighted the relative financial strength of the country and economic performance in comparison to other G7 countries.  

Canada entered the recession nine months later than the U.S. and job losses here have been fewer. The deficit while large is the lowest as a per cent of the GDP than other major advanced economies. As a result Canada can afford one of the largest stimulus plans of the G7 countries.  

According to the International Monetary Fund, Canada will have one of the strongest recoveries, “Canada is better positioned than many countries to weather the crisis. It entered the crisis from a position of strength, reflecting a track record of strong policy management…and financial stability.”