August 18, 2014 – Brampton, Ontario – Department of Finance
Minister of State (Finance) Kevin Sorenson and Kyle Seeback, Member of Parliament for Brampton West, met with business leaders at the Brampton Board of Trade today to discuss ways the Government and businesses can work together to build a stronger economy.
Minister Sorenson provided an update on the economy, financial literacy initiatives and the Government’s plan to return to balanced budgets. He also consulted businesses on how to further reduce red tape, enhance private sector growth, break down internal trade barriers and improve overall competitiveness.
- The Canadian economy has posted one of the strongest job creation records in the Group of Seven (G-7) over the recovery, with more than 1 million jobs created since July 2009.
- Real gross domestic product is significantly above pre-recession levels—the best performance in the G-7.
- In 2013, Canada leapt from sixth to second place in Bloomberg’s ranking of the most attractive destinations for business.
- According to KPMG, Canada’s total business tax costs are now the lowest in the G-7 and 46% lower than those in the United States.
- With the introduction of the Pooled Registered Pension Plan, millions of small business owners and their employees will have access to a private, low-cost pension plan.
- Recognizing that Canadians’ financial health affects the country’s financial health, the Government is working to improve Canadians’ financial literacy. In April 2014, the Government appointed Canada’s first Financial Literacy Leader and is working with her to develop a national strategy on financial literacy, with the first phase focused on seniors.
- Kevin Sorenson, Minister of State (Finance)
“Our Government is proud to be working with small and medium-sized businesses like those here in Brampton to create jobs and grow the economy, which is vital to building long-term prosperity in this community and across the country. I am pleased that Minister Sorenson has come to Brampton to hear from our local business leaders about ways we can continue to work together to create jobs and opportunities for this community and all Canadians.”
- Kyle Seeback, Member of Parliament for Brampton West
“We thank Minister Sorenson, Minister Gosal, as well as MPs Kyle Seeback and Parm Gill for taking time away from their busy schedules to seek input from local business leaders and address critical issues and economic challenges that are facing the business community today. The Brampton Board of Trade prides itself on creating and organizing events like these to stimulate these types of conversations and ideas that will promote long-term growth and sustainability in our community. On behalf of the Brampton Board of Trade, I thank all of our honoured guests for attending and hope to see them at more of our events in the future.”
- Susan Crawford, Chair of the Brampton Board of Trade