Minister Paradis Highlights Government of Canada's Efforts to Create Jobs and Economic Growth

ST. JOHN'S, NEWFOUNDLAND and LABRADOR--(Marketwire - Sept. 18, 2011) - Today, the Honourable Christian Paradis, Minister of Industry, addressed the Annual General Meeting of the Canadian Chamber of Commerce. The Minister highlighted the measures that the Government of Canada is taking to continue to create jobs and generate economic growth.

"Our government's support for business did not begin and end with stimulus measures. We have cut the GST. We've offered tax incentives to help families retrofit their homes. We've cut import tariffs on manufacturing equipment. By January of next year, we will have cut our federal corporate tax rate to 15 percent—the lowest overall tax rate on new business investment in the G7 and less than half that of our American neighbours. Our work in reducing the tax burden for small businesses is one of our proudest accomplishments," said Minister Paradis.

The Minister highlighted the importance of innovation and building the digital economy to sustainable economic prosperity. In addition, he issued a challenge to the private sector to continue the momentum achieved through government stimulus efforts.

"The Next Phase of Canada's Economic Action Plan will shift emphasis away from stimulus and toward careful, considered and prudent action with a view to restraining government expenditures. We must turn to the business leaders in communities across the country to lead during the next phase of this recovery," said Minister Paradis.

The Canadian Chamber of Commerce is largest business association in Canada.