Tag Archives: Canada

Budget 2015: Speech from Finance Minister Joe Oilver

Mr. Speaker, I rise before this House today to table the budget documents for 2015, including notices of ways and means motions.

The details of the measures are contained in these documents, and I am asking that an order of the day be designated for consideration of these motions.

I also wish to announce that the Government will introduce legislation to implement the measures in the budget.

Mr. Speaker, I am proud to present Economic Action Plan 2015 – our Government’s plan for growth and opportunity. It is a prudent and principled plan that will see Canadians more prosperous, more secure, and ever more confident in our country’s place in the world.

The story of Canada is – has always been –­­ the story of opportunity.

Opportunity is what has drawn people here from around the world, generation after generation. It is what draws them still.

Opportunity for themselves and for their families, the opportunity to work hard, dream big, and achieve those dreams.

On a personal note, I will be forever grateful to my grandparents for their fateful decision to immigrate to Canada more than a hundred years ago. Like so many others, they chose liberation over oppression, opportunity over stagnation – a bright future over a gathering storm.

Continue reading Budget 2015: Speech from Finance Minister Joe Oilver

Real gross domestic product declined 0.2% in November

According to Statistics Canada, real gross domestic product declined 0.2% in November, largely the result of declines in manufacturing, mining, and oil and gas extraction.

Goods production fell 0.8% in November. Notable decreases were recorded in manufacturing and mining, quarrying, and oil and gas extraction. In contrast, utilities and the agriculture and forestry sector increased. Construction was unchanged in November.

The output of service industries was unchanged in November, as increases in retail trade and the public sector (education, health and public administration combined) were offset by declines in other areas. Notable decreases occurred in wholesale trade and the finance and insurance sector.

Source: Statistics Canada

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Canada’s economy grew fastest than expected in October

According to Statistics Canada, Canada’s gross domestic product rose 0.3 per cent after a September gain of 0.4 per cent. Most economist had expected a 0.1 per cent growth rate. Gains were made in the public sector (0.8 per cent) and commodities production.

Educational services was the largest contributor to the public sector at 2.6 per cent growth, while oil and gas extraction led the way for commodities at 1.5 per cent growth.

It is anticipated that commodities production will take a hit with the plunge in the price of crude oil and will impact the quarters to come. Forecasts average 2.3 per cent annualized growth for 2015.