Wild Rose MP Blake Richards was appointed to the federal government’s House of Commons Standing Committee on Finance Jan. 28, and will play a role in Conservative Party’s efforts to balance its books in 2015.
“Continued global economic turmoil, particularly volatility in the energy markets, is impacting our government’s flexibility,” Richards said in a release.
“Fortunately for Canadians, our government has taken precautionary steps, including a $3 billion contingency fund in the event of unforeseen circumstances.”
Richards’ office indicated that the Conservative government’s low tax, pro-growth policies that were implemented during the global recession of 2008 have left Canada in an enviable position, saying that Canada has the best jobs record in the Group of Seven and European Union (G7) – made up of France, Germany, Italy, Japan, the U.K., European Union, United States and Canada – having created around 1.2 million positions since the peak of the recession.
Richards’ office also says Canada’s real gross domestic product (GDP) has grown by more than 9.2 per cent from pre-recession levels, also best in the G7, and that the debt-to-GDP ratio declined in 2014 and the country has seen a reduction in its deficit for six consecutive years.
“The best part is that our low tax plan for jobs and growth is making a real difference for hard working families,” said Richards. “Our government has cut taxes in virtually every way they are collected. As a result, an average family with two children pays $3,400 less in taxes in 2014 than in 2006. In addition, more than one million low-income Canadians, including 380,000 seniors, have been removed from the tax rolls altogether.”
Richards said that Canada is a trading nation and that, along with responsible fiscal management, the government must continue to look at new opportunities to continue to prosper.
The 2015 federal budget is expected to be released this April.
