Wild Rose MP Blake Richards told Airdrie businesspeople that this spring’s federal budget will focus on deficit reduction.
Richards spoke to about 60 people at the Airdrie Chamber of Commerce meeting at Woodside Golf Course on March 21.
“I don’t want to give out all the details or take anything away from the finance minister on Thursday (March 29 after press time), but the next phase will focus on debt reduction,” Richards said.
“We need to use Canada’s strong economic status to rebalance the books. We are poised to return to balanced budgets far ahead of other G7 countries. Our strong financial position will make Canada the country of choice to do business with around the world.”
Richards said the federal government’s message over the past few years has been very clear: Nurturing the economy back to full health.
“Times have been tough over the past couple of years, we are making real and sustained progress in our recovery,” he said. “Canada is forecast to have the strongest growth out of all the G7 countries.”
He said the government’s Economic Action Plan involves stimulus, decreased taxes and infrastructure renewal to help the country out of the economic slowdown that began in late 2008.
“As the economy moves to recovery, the Economic Action Plan moves with it,” he said. “It is about supporting the communities’ needs to make sure business is sustainable and it fits people’s needs. We need to make sure we are not trying to stick a square peg in a round hole.”
He said the first and best thing the federal government can do for small businesses is to get out of their way.
“Government regulations are for the public good but they can also stifle growth,” he said. “(Regulations) have to be managed and make sure they don’t expand unnecessarily.”
He said the government is looking at reducing red tape, improving relations with countries such as China and amending immigration laws to reduce labour shortages.
“We are looking at every time a new government regulation is introduced, another will be eliminated, so we don’t have duplicates,” he said.
Lorna Hunt, executive director of the Airdrie Chamber of Commerce, asked if immigration reforms will include faster accreditation for professionals from other countries.
“The temporary foreign worker program needs to be looked at,” said Richards.
“The system is so broken that we have to do it piece by piece to avoid creating any new problems. Right now, it can take five or six years to see an application processed and that is causing problems where people are claiming refugee status to avoid that wait. We are in the first steps but speeding up credentials has to be a part of the equation.”
He said although there are some challenges ahead, Canada has more reason to be optimistic than most countries.
“There are the challenges of the sovereign debt crisis in Europe, further slow down in the U.S. economy and other struggles, but we are strong and united and our books will be balances in short order,” he said.
“Our natural resources are the envy of other countries and energy resources are a big reason for our success here in Alberta.
“Not only do we have natural resources, we have innovators and risk takers. The energy sector is the pillar of our economy.”
Al Jones, owner of Advanced Distribution and Here’s the Scoop, asked Richards if equalization payments were going to be reviewed.
“We (Alberta) are a net contributor because of our strong economy,” he said.
“That program is entrenched in the Constitution and it is not going away but we are always looking at the way it is distributed.”
Richards said the energy sector accounts for seven per cent of Canada’s GDP with $2.3 trillion per year.
Canada is the second largest producer of uranium, the third largest producer of natural gas and the seventh largest producer of crude oil in the world, he added.
“The primary sources of our energy wealth is in the oil sands in Alberta, but the benefits extend beyond Alberta,” he said.
“There is no doubt the development of the oil sands is in the best interest for all of Canada.”
He said the federal government’s goals with the new budget are to open new markets for Canada and create jobs and prosperity for all Canadians.
