Mr. Speaker, with the onset of the worst global financial crisis since the 1930s, the Government of Canada’s priority through the global turbulence has been to protect the economy and help create jobs with Canada’s economic action plan. This timely, targeted and temporary response has helped Canada’s economy create more than 750,000 net new jobs since July 2009, the best performance in the G7.
Additionally, the Government of Canada has also taken numerous steps to address long-term challenges and ensure the sustainability of public finances and social programs for future generations, including implementing a fiscal plan to return to balanced budgets and a downward trajectory of the federal debt; gradually increasing the age of eligibility for old age security, OAS, and guaranteed income supplement benefits from 65 to 67; ensuring that pension plans for public servants and parliamentarians are sustainable, fair and financially responsible; and more. For more information, members may consult chapter 4, “Sustainable Social Programs and a Secure Retirement”, and chapter 5, “Responsible Management to Return to Balanced Budgets”, of budget 2012, available at www.budget.gc.ca.