Mr. Speaker, as we all know, it is not the quantity of time but rather the quality, as the opposition has so aptly demonstrated to us.
Thank you, Mr. Speaker, for this opportunity to add my comments to the debate on Bill C-4. As my colleague has already so eloquently stated, we are proud of our government's achievements since the storm clouds first gathered over the global economy in 2008. Today, I will focus on the ways economic action plan 2013 helps strengthen Canada's economy in these uncertain times. Be assured, our government remains committed to what matters most to Canadians. That is jobs, job creation and economic growth.
First, our government firmly believes in helping small businesses grow. That is why we have lowered taxes and tariffs, cut red tape and improved conditions for small business. These steps have established a solid foundation that has allowed Canadian businesses to create jobs and drive economic growth. Indeed, by implementing Canada's economic action plan Canada has experienced one of the best economic performances among the G7 countries, both during the global recession and throughout the recovery.
Contrary to what the opposition leaders may believe, Canada is on strong economic footing. Since the depth of the recession over one million net new jobs have been created, most in high-wage industries. There are now 605,000 more jobs than at the pre-recession peak. This is the strongest job growth in G7 countries over the course of the recovery. Almost 90% of all jobs created since July of 2009 have been full-time positions with close to 85% of those being in the private sector. Also, growth levels are above pre-recession levels.
That is the best performance in the G7. Both the IMF and the OECD expect Canada to be among the strongest growing economies in the G7 over this year and next. The World Economic Forum has rated Canada's banking system as the world's soundest for the fifth year in a row. Three credit rating agencies, Moody's, Fitch, and Standard and Poor's, have all reaffirmed their top credit rating for Canada and expect it will maintain its AAA rating in the year ahead. Canada's fiscal fundamentals are solid and they are sustainable.
However, to truly understand the strength behind this performance, one has to consider the hard work that took place long before, through the actions our government took to pay down debt, lower taxes, reduce red tape and promote free trade and innovation.