On the seventh anniversary of his swearing-in as Minister of Finance, the Honourable Jim Flaherty today highlighted the Harper Government’s past economic success and set out the course towards a prosperous future.
Speaking to the Economic Club of Canada, Minister Flaherty recounted how actions taken early in the Harper Government’s mandate, such as cutting taxes, investing in infrastructure and eliminating a significant amount of federal debt, positioned Canada to emerge from the Great Recession faster and stronger than virtually any other industrialized country.
“Our Government has witnessed and responded to a host of challenges, some of them unprecedented in our lifetime,” said Minister Flaherty. “The actions our Government initiated through Canada’s Economic Action Plan allowed us to recover from these global economic shocks faster and with the best job growth record over the recovery and lowest net debt to GDP ratio in the G-7.”
He noted that since 2006, the Harper Government has continually taken the long-term view in managing the Canadian economy, while taking prudent action to address short-term risks.
“Throughout the uncertainty in the global economy, we have seen Canada’s Economic Action Plan deliver real and tangible results for Canadians,” said Minister Flaherty. “Budget 2013, the next step in our Economic Action Plan, will continue to build on our strengths and the key pro-growth initiatives, with the objective of returning to balanced budgets by the end of this Parliament.”
As Minister Flaherty prepares Budget 2013 he made it clear that the Government will not:
- Engage in dangerous and risky new spending schemes.
- Engage in endless spending to increase deficits.
- Impose new taxes on Canadians.
Minister Flaherty concluded by adding, “In uncertain global economic times, the most important contribution a government can make to bolster confidence and growth in a country is to maintain a sound fiscal position. We have done so. We will continue to do so.”