Treasury Board of Canada Secretariat

Treasury Board of Canada Secretariat

August 29, 2011 15:59 ET

Treasury Board President Reaffirms Commitment to Reduce Government Spending and Return to a Balanced Budget

WHITEHORSE, YUKON--(Marketwire - Aug. 29, 2011) - Today, the Honourable Tony Clement, President of the Treasury Board and Minister for FedNor, delivered an address to the Whitehorse Chamber of Commerce regarding the Government of Canada's commitment to balancing the budget in three years and eliminating the deficit.

"The Government has received a mandate from Canadians to eliminate the deficit, keep taxes low and continue creating jobs for Canadians," said Minister Clement. "Our deficit reduction action plan is an opportunity to modernize how we do business—to get government right and ensure the economy can continue to grow and create jobs, and that we continue to invest in the priorities of Canadians."

To help return to a balanced budget, 67 organizations are reviewing their operating expenses and grants and contributions expenditures. The goal is to find ongoing savings of at least $4 billion by 2014–15. There will be no cuts to major transfers, to persons and others levels of government, nor to public debt payments. The results of the review will be released as part of Budget 2012.

The President of the Treasury Board also reaffirmed the Government's commitment to adopting a balanced approach to ensuring responsible and strategic investments in keeping with the priorities of Canadians while continuing to eliminate the deficit.

Minister Clement, on behalf of the Honourable Leona Aglukkaq, Minister of Health and Minister of the Canadian Northern Economic Development Agency, also announced the Government's support for the Whitehorse Chamber of Commerce with the implementation phase of its Partnering for Success Program and Yukon Business Development Program. This important step will encourage participation by northerners in the economy, enhance the investment climate in the territory and contribute to greater prosperity in the North.

"The Government of Canada is pleased to invest in two projects that will help create new jobs and increase capacity in highly competitive business sectors in the Yukon," said Minister Clement. "The Chamber's goals are aligned with the Government of Canada's vision for a growing, diversified and sustainable economy."

This represents investments of $658,922 for the Yukon Business Development Program and $142,500 for the Partnering for Success Business Implementation Phase. With these investments, the Government of Canada supports the development of a strong, diverse and dynamic economy in the North.

The Yukon Business Development Program helps diversify Yukon's economy and create new jobs. It also develops new capacity in the territory by mentoring, advising and providing other services to certain private sector companies in the Yukon and some First Nation companies that have export potential, equipping them for continued commercial success.

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Contact Information

  • Heather Hume
    Press Secretary
    Office of the President of the Treasury Board

    Media Relations
    Treasury Board of Canada

    Erin MacPherson
    Canadian Northern Economic
    Development Agency, Yukon Region