Jim Flaherty again encourages the private sector to spend.
In his speech, the minister conceded that business investment had picked up of late, but “more needs to be done,” he told the audience.
He noted that government had done its part, slashing corporate taxes, eliminating tariffs, introducing monetary inducements to encourage the purchase of new technologies, reducing red tape and concluding some 20 free trade and investment protection agreements around the world. “The government cannot do this alone,” he said. “Private sector business investment must also help lay the foundation for a sustained, longer-run expansion of Canada’s economy and jobs growth.”
According to KPMG, Canada has the lowest corporate tax rate in the developed world.
Mr. Flaherty made similar comments last month.