Statement by the Honourable Tony Clement, President of the Treasury Board and Minister for FedNor

OTTAWA, ONTARIO--(Marketwire - Aug. 12, 2011) - On May 2, Canadians gave our Government a strong mandate to implement our low-tax plan for jobs and economic growth which includes eliminating the deficit and returning to balanced budgets within three years. Canadians know that when it comes to the economy and to protecting them and their families, they can count on us to make prudent and responsible decisions.

I am disappointed that senior members of both opposition parties are irresponsibly urging the Government to change course.

Recent events have demonstrated that governments must have a prudent fiscal plan to make job-creating investments, keep taxes low and reduce deficits. This is the plan that we set out in the Next Phase of Canada's Economic Action Plan and one that we intend to follow through on.

With our Government's strong leadership we have helped Canada maintain a steady course and have weathered the economic storm better than most of our international counterparts—and we have done so without raising taxes. Our responsible approach to deficit reduction is one of the reasons why our economy is creating jobs. Our plan is to get Canada back on track and balance the budgets by 2014, so that we can implement more targeted tax relief for hard-working Canadians and their families. And that is exactly what we will do.

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This news release is available online at: www.tbs-sct.gc.ca.