Statistics Canada reported this morning that GDP remained stable in April following seven consecutive monthly increases. The economy remains our number one priority as we implement Year 2 of Canada’s Economic Action Plan – a plan that has created almost 310,000 jobs since last July.
We have always said the global recovery remains fragile.
Just as external factors brought the global recession to Canada’s shores, the debt crisis in Europe demonstrates that Canada is not an island, and that economic circumstances elsewhere can impact our economy here.
Canada’s economic leadership was clear at last week's G-8 and G-20 Summits. Prime Minister Harper was instrumental in convincing Summit nations to agree to follow through on fiscal stimulus, while looking ahead to halve deficits by 2013 and stabilize debt-to-GDP ratios by 2016.
The Wall Street Journal praised Canada for “leading the pushback against the tax-and-spend agenda of some of the more powerful members of the G-20…Tax cuts, limits on stimulus spending, a strong currency and freer trade. Who says Canada is boring?”
As the country with the best fiscal position in the G-7, Canada is leading the way by convincing the international community to implement policies that will achieve Strong, Sustainable and Balanced Growth.
The Opposition’s policies would raise taxes, halt our recovery, and, according to experts, kill almost 400,000 jobs.
