Report on Achievements of Canada’s New Government

 
By Hon. Jim Flaherty 
Minister of Finance and Minister Responsible for the GTA

Now that students are back at school and people are returning to work, the focus is shifting to a busy and productive fall. Canada’s New Government is no exception as we set out to build on the progress of the past year and a half. 

Our government has a solid record of achievement and is getting things done for Canadians by: 

·       Reducing taxes by $40 billion over three years for individuals, families and business;

·       Reducing our national debt by $22 billion over two years, or $700 for every man, woman 
        and child in Canada;

·       Dedicating all interest savings from the shrinking federal debt to personal income tax
        reductions as part of our Tax Back Guarantee;

·       Limiting the growth of spending;

·       Balancing the books; and

·       Introducing a tough new environmental action plan with specific targets to reduce greenhouse gasses and air pollution. 

While these measures are making our strong Canadian economy even stronger, a growing economy is not just about numbers.  At its heart, it is about people, the places they live, and the dreams they hope to fulfill. At this time of year we are constantly reminded of that as students strive to be the best they can be. We are proud of our up and coming scientists, architects and electricians and our government is providing support in a variety of ways, including; 

• Exempting all scholarships from taxes for post-secondary students;

• Providing a new textbook tax credit;

• Providing a new $1,000 apprenticeship grant to encourage the skilled trades;

• Increasing limits on Registered Education Savings Plan contributions; and

• Providing a tax credit for the cost of monthly and weekly transit passes.

As part of Advantage Canada, our long-term economic plan for Canada, we have set a bold goal of creating the best educated, most skilled and most flexible workforce in the world. To be successful we must look beyond our educational institutions and our borders and adopt measures to ensure that Canada’s immigration policies are more closely aligned with the needs of the labour market.  

Our government is taking steps to see to it that newcomers are able to find employment that uses their talents, skills and experience more quickly. We are adopting measures to permit foreign students with Canadian credentials and work experience—and skilled temporary foreign workers who are already in Canada—to apply for permanent residence without leaving the country.

In addition, our government is facilitating the assessment and recognition of foreign credentials through the Foreign Credential Referral Office. It is providing prospective immigrants overseas, and newcomers already in Canada, with information about the Canadian labour market and credential assessment and recognition requirements.

As I reflect on the past 18 months, I am proud of our many accomplishments, but I am aware that there is still much more to do. The fall session of Parliament will commence soon and Canada’s New Government will continue to get things done for Canadians from coast to coast to coast.