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Canada Launches Pre-Budget Consultation Process

by Mike Godfrey, Tax-News.com, Washington

05 December 2011


Canadian Finance Minister Jim Flaherty has launched the first round of Canada's pre-Budget consultations, setting out his priorities for job creation and economic growth.

Flaherty took part in a pre-budget roundtable discussion in Charlottetown with business, academic and sectoral leaders from across the country. The meeting was the first in a series of cross-Canada consultations on how best to ensure the economy continues to produce jobs and growth in a difficult global economy.

He said: “Budget 2012 will maintain our focus on jobs and economic growth while reducing the deficit and returning to balance in the medium term...I want to hear from Canadians on how we can advance the next phase of our Economic Action Plan to continue to deliver results on these priorities.”

Flaherty will continue to participate in these consultations into the New Year, and will announce venues and details as they become available. He has previously spoken of the government's intention to remain on its fiscal path, concentrating on the drive for job creation and economic growth.

The government struggled to get the 2011 Budget through parliament when it was first introduced in March, but secured its passage with an increased majority acquired in the May general election. It focused on maintaining a low-tax plan for the economy.

Speaking to the Canadian Club of Toronto in November, Flaherty made clear that, “in uncertain times, the most important contribution the government can make to bolster confidence and growth in Canada is to maintain a sound fiscal position. We need to anticipate that there will be further economic challenges down the road, and plan accordingly. But global economic angst will not sidetrack us from our ultimate goal of balanced budgets."

TAGS: tax | economics | business | fiscal policy | budget | Canada

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