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Canada’s Future Prosperity the Focus of Finance Minister’s Policy Retreat

WAKEFIELD, Quebec, August 10, 2011 — The Honourable Jim Flaherty, Minister of Finance, today launched his fifth annual National Policy Retreat, bringing together a number of distinguished Canadians—small- and large-business representatives and academics—to discuss a host of economic issues facing Canada.

“We will be discussing challenges and opportunities facing Canadians, and the actions that governments—and, more importantly, the private sector—can take to build a stronger, more prosperous country,” said Minister Flaherty.

Despite renewed uncertainty generated by concerns about U.S. growth and the continuing debt problems in Europe, the Minister noted that the Canadian economy is performing well compared to most other countries.

Canada has seen seven straight quarters of economic growth, Moody’s Investors Service recently renewed Canada’s triple-A credit rating, and the International Monetary Fund forecasts that Canada will continue to be among the strongest-growing economies in the Group of Seven (G-7) this year and next. 

To ensure Canada stays at the forefront of economic growth and job creation, the Minister has asked retreat participants to address vital strategic issues such as how Canada can best compete in the uncertain global economic environment and how to build a firm foundation for long-term prosperity.

“We have much to be proud of, but the global situation is volatile,” said Minister Flaherty. “While we should not understate the risks, Canadians can be confident that our country is well positioned to face global economic challenges as we have done successfully in the recent past.

“It is therefore a very timely occasion for us to meet and tackle the key questions that affect our future prosperity. By working together, at this retreat and in the future, we can continue to shape the policies and initiatives of the Next Phase of Canada’s Economic Action Plan, and keep our economy strong and growing for the benefit of all Canadians.”

News source: Department of Finance


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