Minister Flaherty recently presented our government's Fourth Report to Canadians, which highlights the progress of the implementation of Canada's Economic Action Plan.

 

Just 10 months into our two-year plan, our government has already committed 97 per cent of our Economic Action Plan, adding up to 12,000 projects across the country.  8,000 have already begun. 

 

Projects from coast to coast to coast are up and running, jobs are being created and communities across the land are seeing the benefits. 

 

Progress on other Economic Action Plan measures were also highlighted in the report: 

 

• tax cuts for Canadian families and businesses 

 

• support for Canadian workers who have lost their jobs or may face layoffs through additional Employment Insurance benefits and training opportunities and the introduction of legislation extending EI benefits to the self-employed 

 

• support for research and advanced education by funding maintenance, repair and construction projects at colleges and universities across Canada - in fact 100 per cent of the $2 billion Knowledge Infrastructure Program fund has been committed to projects at college and university campuses throughout the country

 

Our efforts are having a positive effect. We are seeing stabilization and the Canadian economy has begun to turn the corner. 

 

• Canada's unemployment rate is now 1.6 percentage points lower than in the U.S. - the largest gap in a generation 

 

• The OECD recently projected that Canada will have the second strongest economic growth among G-7 countries in 2010, and the strongest G-7 growth in 2011. 

 

• Consumer and business confidence has recovered sharply since the beginning of the year 

 

• Private spending on consumer and investment goods has rebounded strongly in recent months 

 

• Residential investment has rebounded since March 

 

• Government capital investment has increased almost 25 per cent in the third quarter of this year - the largest increase in a decade

 

While recovery is fragile, we are not out of the woods yet.  It is critical that we continue to implement our plan. 

 

Our government remains committed to stay on course and fully implement our two-year Economic Action Plan.  Doing anything else would is reckless and irresponsible.

 

 

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