Mr. Speaker, the IMF's annual review of Canada supports the government's plan to return to balanced budgets in the medium term.
As the Minister of Finance said:
Thanks to our sound and stable economy and measures taken in the Next Phase of Canada’s Economic Action Plan, the IMF is maintaining its positive outlook for Canada.
The IMF statement endorses the measures taken by the government to promote the long-term stability of Canada's housing market, including changes in the rules for government-backed insured mortgages.
The statement confirms our financial sector is solid, noting the government's “high prudential standards and rigorous supervision”. The statement recognizes substantial progress in advancing international and domestic financial sector reforms.
The IMF welcomes our intention to launch a Canadian securities regulator.
Although GDP is up for August, the global economy is still fragile. That is why our government is implementing our low-tax plan to create jobs and economic growth. Our plan is working.