Finance Canada released the sixth “economic stimulus plan” assessment report. The report shows that more than two years before the Canadian government’s economic stimulus plan has achieved good results, but the Canadian economic outlook remains relatively weak, so the government decided 2010 to 2011 fiscal year continued to inject 22 billion economic stimulus package funds the Canadian dollar. However, Canadian Finance Minister Flaherty made the announcement at the same time, also said the economic stimulus package can not expect long-term sustainability. Government still intends to achieve by mid-2010 the balance of the budget.

In response to economic recession, the Harper government two years ago made up to 620 billion yuan economic stimulus package. The plan for its share of GDP basis, the largest after Japan and the United States, ranked third in the West. Program last year achieved significant results since the fourth quarter. GDP growth rate in the fourth quarter increase of 4.9%; in the first quarter of 5.8% growth rate high. Therefore, G20 summit had been raised on the eve of “exit strategy.” But as bleak U.S. economic outlook again, plus growth in the second quarter dropped again, only 2%. This strengthened the Harper government continues to promote the economic stimulus plan determination.

Over the past year, compared with the G7 countries, Canada has made economic stimulus plan did pretty good results. Canadian investment in the first year of 330 billion Canadian dollars, the economic growth rate increased 1.5%. More important contribution is to stimulate the planned infrastructure, the national total of more than a year to create 430,000 jobs, the figures have been slightly out of touch the gold crisis and economic recession brought about by unemployment, the national unemployment rate from its peak of 8.7% to 8.1% in August this year. Although this figure is still not a low, but with the U.S. unemployment rate of 9.6% compared with the previous forecast of economists than 10%, fairly satisfactory.

The main economic stimulus plan aims to increase investment in infrastructure. Government in the country were identified 23,000 projects. So far, 225,000 projects completed or under construction, 97% of the total plan. Of which 5 million Canadian dollars for the construction of sports facilities. This 2000 sports facilities and now has 1,900 under construction or already completed.

For future long-term development, economic stimulus plan also increased the investment in science and education, significantly updated and improved the infrastructure of universities, federal laboratories and other research projects, increased funding for scientific research as well as graduate students, interns and academic activities in support of efforts to ensure that Canada in basic scientific research and technology at the forefront in the world.

A major economic stimulus package is to protect and improve people’s livelihood. Government long-term reduction of personal income tax at the same time, and from the economic stimulus plan to allocate 50 billion Canadian dollars for unemployment benefits and insurance. In addition, home improvements and renovations by giving tax relief on the one hand to improve the living conditions of poor families, on the other hand the construction industry will not support the real estate collapse.

Canada’s economic stimulus plan approved by the international community, IMF commented: Canada’s economic stimulus plan “a substantial amount, the introduction of timely, rich and varied but structured to obtain the best benefit.” Padoan also praised IMF chief economist, said: “Although Canada from its southern neighbor was a serious blow, but benefited from good policy.”

Despite many achievements, but economists still believe that Canada’s economy remains fragile. First of all, 8.1% unemployment rate remains high. More importantly, Canada’s trade dependence on primary exports to the U.S.. However, the U.S. economic outlook is not optimistic, or even second bottom. If the U.S. economy can not be reversed, and Canada’s economic growth will limited. So open up more export markets for Canadian priority.

To this end, Canada’s three government ministers: Minister Hom Lennon, Luoan Minister of International Trade and Minister of Fisheries and Oceans Shea, jointly participated in the September 26 to 29 at the East Coast in Canada, “Foreign Affairs Forum.” The meeting aimed to open up overseas markets. Luoan pointed out: The Government is implementing a Canadian business and workers to develop new foreign markets ambitious schedule; we are working with the major markets of global free trade negotiations.

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