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Contents contributed and discussions participated by Kiruban Mahadeva

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Canada 2011 Budget: Flaherty Budget Speech (Text) - Bloomberg - 1 views

www.bloomberg.com/...herty-budget-speech-text-.html Government Spending Taxes Debt
shared by Kiruban Mahadeva on 03 Jun 11 - No Cached
  • The global economy is still fragile. The U.S. and our other trading partners are facing challenges. Compared to other countries, Canada's economy is performing very well-but our continued recovery is by no means assured. Many threats remain.
  • Securing our recovery from the global recession The Next Phase of Canada's Economic Action Plan is critically important
  • Now is not the time for instability. It would make it harder for Canadian businesses to plan and to expand. It would drive investment away to other countries. It would jeopardize the gains we have made.
  • ...18 more annotations...
  • We will keep taxes low. We will undertake additional targeted investments to support jobs and growth
  • massive tax increases
  • We will not give in to Opposition demands to impose
  • This reckless policy would lead to continuing deficits and higher taxes on all Canadians. It would stall our recovery, kill hundreds of thousands of jobs and set families back.
  • Sustained growth comes from the private sector. We will help businesses to create jobs. We will not raise taxes on growth.
  • Since July 2009, the Canadian economy has created more than 480,000 new jobs-more than were lost during the recession
  • we remain concerned about the number of Canadians looking for work
  • We need to keep protecting and creating jobs now
  • Keeping taxes low A key part of that foundation is low taxes.
  • Our government has delivered tax relief for all Canadians
  • Our tax cuts are also helping employers to invest, grow and create jobs.
  • Our commitment to low taxes is supported by a strong consensus: that protecting Canada's tax advantage is key to securing our recovery.
  • Canadian industries Even so, in the current global economic climate, many businesses remain hesitant to invest and to hire.
  • Our government will take further action to encourage them to expand and create jobs.
  • The Hiring Credit for Small Business will provide a one-year EI break for some 525,000 Canadian small businesses
  • Expanding international trade Beyond this, we will promote new export opportunities for all Canadian businesses
  • We need to keep expanding our access to foreign markets, to create new jobs here at home.
  • We will provide greater financial security for Canadians, and practical help to make ends meet.
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The Canadian Press: Time for U.S. to deal with debt problem; spillover could hurt Canad... - 1 views

www.google.com/...M5gJ9kKsGOWKz-UmEeHBogtbF6PLHw Debt GDP
shared by Kiruban Mahadeva on 02 Jun 11 - No Cached
  • concerned about the mounting level of debt in the United States and its potential to slow Canada's recovery
  • when debt exceeds 90 per cent of GDP, economic growth will slow, and that is a situation facing most of Canada's major trading partners, particularly the U.S
  • as markets lose patience with the pace of deficit reduction, the result will be higher interest rates that impact all
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  • It's a transformation that sees emerging markets like China bound forward while advanced countries — Canada's traditional economic partners — muddle along through years of slow growth because of massive debt.
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Jesse Kline: U.S. looks to Canada to fix its debt crisis | Full Comment | National Post - 1 views

fullcomment.nationalpost.com/...-canada-to-fix-its-debt-crisis Debt Government Spending
shared by Kiruban Mahadeva on 01 Jun 11 - No Cached
  • In 1994, Canada’s debt-to-GDP ratio was around 67%, but thanks to sound fiscal management, deep spending cuts and sustained economic growth, this number was reduced to 29% by 2009
  • Canadian experience shows that government can balance the books by making significant spending cuts, and that can be done without having an adverse effect on economic growth and levels of employment
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Tax incentives don't create jobs: economist - 0 views

www.calgaryherald.com/...story.html Tax Government Spending Jobs
shared by Kiruban Mahadeva on 31 May 11 - No Cached
  • Tax incentives for small business don't create jobs and in some cases restrict a company's growth
  • lower taxes create disincentives for small businesses to grow
  • governments have reduced or eliminated corporate taxes on small businesses (2.5 per cent in Alberta) even though there is no evidence the move is effective
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  • companies may break into smaller units to take advantage of tax benefits
  • concern really is over the growth aspect and job creation, because we do see so few small businesses growing
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