Ottawa, December 31, 2013

The Honourable Jim Flaherty, Minister of Finance, today took stock of Canada's achievements in 2013 with respect to job creation and economic growth, as well as the work done by the Government to set a solid foundation for long-term prosperity.

"In the face of continued global economic fragility, the fact that Canada has created almost 1.1 million jobs since July 2009, with more than 80 per cent of those jobs in the private sector and two-thirds in high-wage industries, is a testament to the resilience of the Canadian economy," said Minister Flaherty. "Balancing the budget in 2015 will provide further support to our plan to foster strong, sustainable, long-term economic growth."

As indicated in November's Update of Economic and Fiscal Projections, responsible and disciplined use of taxpayers' hard-earned dollars today is expected to yield a surplus of just under $4 billion in 2015–16. This will be accomplished while keeping the federal tax burden at its lowest level as a percentage of the economy in over 50 years. As a result of the Government's low-tax plan, the average Canadian family of four now pays $3,220 less in taxes than in 2006.

The Minister noted that tough choices and sacrifices today will soon lead to balanced budgets that will help keep taxes low and ensure such Canadian priorities as health care remain sustainable well into the future. He added that the Government has reached out to Canadians on their priorities for the next budget through a series of pre-budget roundtables and online through the Department of Finance's website.

"While economic growth in Canada has remained resilient, Canada is not immune to developments outside our border," Minister Flaherty added. "The Government will stick with its low-tax plan for jobs and growth. It is a plan that has worked and served Canadians well, and it will continue to do so in 2014 and in the years ahead."

By;news.gc.ca