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Report to Canadians Shows Canada's Economic Action Plan Is Supporting the Recovery

MONTREAL, Quebec, September 27, 2010 — Through the Economic Action Plan, the Government of Canada has committed funds to over 23,000 projects across Canada to stimulate the economy and put Canadians back to work. The announcement was made by the Honourable Jim Flaherty, Minister of Finance, together with the Honourable Denis Lebel, Minister of State for the Economic Development Agency of Canada for the Regions of Quebec, upon release of the 6th report to Canadians on the implementation of the Economic Action Plan.

The Report to Canadians says the Economic Action Plan is on track to deliver a further $22 billion in federal stimulus spending in 2010-11. All of the jobs lost during the recession in Canada have now been recouped.

“While the recovery is still fragile, the Economic Action Plan is working,” said Minister Flaherty. “Canada stands out now more than ever: increasingly low taxes; the lowest debt burden by far of the major advanced economies; rock solid banks; a major and effective stimulus program—almost 430,000 new jobs since July 2009, more than we lost during the entire recession; and a balanced budget on the horizon.”

Minister Flaherty highlighted the progress made in implementing the Economic Action Plan, noting:

  • Economic Action Plan funds have been committed to over 23,000 projects across the country
  • Over 22,500 or 97 per cent of Economic Action Plan projects are underway or have been completed.
  • In 2010-11, the Action Plan is on track to deliver a further $22 billion in federal stimulus spending, complemented by $7 billion in stimulus funding from provinces, territories, municipalities and other partners.

The report was released today at the Port of Montreal, which is presently under construction thanks to Canada’s Economic Action Plan:

“The Port of Montreal has received over $17 million from the Government of Canada through the Infrastructure Stimulus Fund for three important projects that will allow us to serve the economy efficiently,” said Sylvie Vachon, President and Chief Executive Officer of the Port of Montreal. “Together, these three projects will strengthen the role of the Port as the gateway to the St Lawrence-Great Lakes Corridor, through which passes over two thirds of Canada's international trade.”

For more information on Canada’s Economic Action Plan and projects in communities across Canada, please visit www.actionplan.gc.ca.

News source: Department of Finance

 

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