COMOX VALLEY, BC, Aug. 6, 2014 /CNW/ - Minister of State (Finance) Kevin Sorenson and Minister of State (Chief Government Whip) and Member of Parliament (Vancouver North Island) John Duncan met with business leaders in Comox Valley, British Columbia, today to discuss ways the Government and businesses can work together to build a stronger economy.
Minister of State Sorenson provided an update on the economy, financial literacy initiatives and the Government's plan to return to a balanced budget. 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 G-7 over the recovery, with more than 1 million jobs created since July 2009.
- Real GDP 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, Canada's total business tax costs are now the lowest in the G-7 and 46% lower than those in the United States.
- With the introduction of the Pooled Registered Pension Plan, millions of small business owners and their employees will now have access to a private, low-cost pension plan.
- Recognizing that Canadians' financial health affects the country's financial health, 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, with the first phase focused on seniors.
"Our Government supports businesses and Canadians by keeping taxes low, cutting red tape, offering low-cost pension options to small businesses and the self-employed, and improving financial literacy. Together with our Government's commitment to return to a balanced budget in 2015, these measures will further strengthen Canada's business climate and economy."
- Kevin Sorenson, Minister of State (Finance)
"Small and medium-sized businesses like those right here in Comox Valley are crucial to Canada's long-term prosperity. I was pleased that Minister of State Sorenson came to learn more about the region, in particular the challenges and opportunities available for our business community and local economy."
- John Duncan, Minister of State (Chief Government Whip)
SOURCE: Finance Canada
For further information:
Office of the Minister of State (Finance)
Department of Finance