Canada’s Economic Action Plan is Working

February 03, 2010

GODERICH, ONT— As the federal government gets set to table the second and final phase of Canada’s Economic Action plan on March 4th, the economy is starting to show signs of recovering.  Cabinet ministers and Members of Parliament along with local MP Ben Lobb are currently seeking input from Canadian families and businesses about the next steps that should be taken.

“Our Economic Action Plan combined new support for workers, families and businesses with real action to help stimulate our businesses and communities,” said Ben Lobb M.P.  “From the thousands of new roads, bridges and water treatment systems we helped to build and renew across Canada, to the many renovations you and your families made to your homes with the help of the Home Renovation Tax Credit, our efforts to help stimulate business have helped to stimulate and stabilize our economy.”

Just last week, the International Monetary Fund (IMF) said that Canada’s economic growth will be at the head of the G7 pack in 2010 and 2011.  In 2011, Canada will lead all G7 countries.  The IMF also said that stimulus efforts by governments are “driving the global rebound” and recommends that “the fiscal stimulus planned for 2010 should be fully implemented.”

This also follows some good news recently reported by Statistics Canada announcing that for the third straight month, GDP grew in Canada. November’s 0.4% increase followed similar increases in September and October.

“While we see tentative, early signs that the economy is emerging from recession, the recovery is still fragile,” Prime Minister Harper said.  “Our plan remains helping those who need it now, stimulating new job growth, protecting existing jobs and ensuring that our economy emerges from the recession in a stronger position than it entered it.”

The government has been clear that the priority for Phase II of Canada’s Economic Action plan is to continue the roll out the remaining stimulus projects across the country, plan for deficit reduction once the economy has recovered, and build a strong foundation for job creation and economic growth. 

If you are interested in submitting your views for this year’s federal budget please visit: http://www.fin.gc.ca/prebudget-prebudgetaire/1-eng.asp.