Supporting Small Business and Families in Kingston

KINGSTON, ONTARIO--(Marketwired - March 30, 2015) - Industry Canada

Industry Minister James Moore today addressed board members of the Kingston Economic Development Corporation, highlighting federal initiatives that are helping entrepreneurs grow and create jobs and are establishing the right conditions for Canadian businesses to access global markets.

Minister Moore underlined the Harper Government's economic policies that make Canada the most attractive country in the world to do business: lower taxes, balanced budgets, less debt and an ambitious free trade agenda.

Quick facts

• Canada's economy has posted one of the strongest job creation records in the G7 over the recovery, with more than 1.2 million jobs created since June 2009.
• Small businesses represent 98 percent of all businesses in Canada, account for nearly 7 in 10 jobs in the private sector and contribute about 30 percent to our gross domestic product.
• The government has focused on establishing the right conditions for success, such as lowering taxes, cutting the corporate tax rate from over 22 percent in 2007 to 15 percent today, and removing the federal capital tax.
• Canada's two most recent trade agreements, the Canada-European Union Comprehensive Economic and Trade Agreement and the Canada-Korea Free Trade Agreement, promise to add at least $14 billion annually in new economic activity, equivalent to creating more than 90,000 new jobs.
• Both the International Monetary Fund and the Organisation for Economic Co-operation and Development expect Canada to be among the strongest growing economies in the G7 over this year and the next.
• In 2013, Canada rose from sixth to second place in Bloomberg's ranking of the most attractive destinations for business. According to KPMG, total business tax costs in Canada are the lowest in the G7.
• Manufacturing employs almost 1.7 million Canadians, and almost all of them occupy full-time jobs. Canada's manufacturing sales have bounced back and are up more than 25 percent since the recession.

Quote

"Our government understands the important role small and medium-sized businesses play in the Canadian economy. To ensure our economy remains strong, our government has taken important steps to support Canadian entrepreneurs, such as keeping taxes low and promoting trade abroad and skills training at home, which are necessary conditions for creating jobs and growing our economy."

- James Moore, Minister of Industry

Associated link

- Advanced Manufacturing Fund

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