Joe Oliver, M.P. Eglinton-Lawrence MP and the Federal Minister of Finance, attended three events in Guelph on Aug. 21, that were hosted by the Guelph Federal Conservation Electoral District Association (EDA).
Two events were fundraisers for the Guelph EDA (riding association). Oliver was the keynote speaker at both events. The third event was an invitation-only roundtable entitled: “A Discussion of Economic and Financial Policy with the Federal Minister of Finance”.
Minister Oliver’s keynote speeches at the luncheon and a later barbecue began by reviewing Canada’s economic investments and financial success following the Recession of 2008. Besides making important investments through programs such as the Automotive Innovation Fund and the Building Canada Fund, he noted that the Stephen Harper government has “paid down our debt…because public debt is the enemy of prosperity and it burdens our children and our grandchildren.” He reiterated the importance of not burdening future generations with public debt several times during his speeches.
Oliver pointed out that Canada’s success since the Recession has resulted in our being “an island of stability in an unstable world.” However, he cautioned that “we cannot isolate ourselves from the world economy. We are a trading nation and we must continue trading with the world if we are going to succeed (because) 60 per cent of our GDP and one in five jobs are tied to exports.” As a result, the Harper government will continue to pursue free trade agreements around the world to add to the 40+ agreements signed so far.
With regard to the 2015 budget, the Oliver indicated that some of the anticipated $6 billion in surplus being forecast for next year will be used to reduce individual and household taxes. He was very clear that the government does not intend to meet Premier Wynne’s request for an additional $12 billion in infrastructure spending. He pointed out that Premier Wynne is correct in recognizing that the federal government would have to give an equivalent amount to the other provinces, which means the request is really for $30 billion for all provinces. Oliver said that, since the forecast surplus is only $6 billion, the Premier’s request would effectively add $24 billion to the federal debt. The Conservatives want to reduce the federal debt, not increase it.
The invitation-only roundtable with 12 Guelph business leaders, allowed participants such as Scott Reid (Reid’s Heritage Homes), Regan Cox (Cox Construction), Chris McNeil (Nestlé Waters Canada), Evan MacKinnon (MacKinnon Transport Inc.) and Lloyd Longfield (Guelph Chamber of Commerce) to highlight specific issues of concern to their organizations. Oliver said that he asks riding associations to organize these roundtables wherever he travels as part of his budget preparations.
Although several issues were raised, there was clearly a great deal of shared concern among the participants about the impact of the poor highway infrastructure in Southwestern Ontario on the costs of doing business and therefore, ultimately, on consumer prices.
Another key issue was the fact that Canada graduates too many people from university and too few from colleges and trade schools. For example, it was pointed out that the Canadian Trucking Alliance forecasts that Canada will have a shortage of 33,000 truck drivers by 2020, despite the fact that Canadian truck drivers earn $20,000 more per year than their American counterparts. Evan MacKinnon said that there is no unemployment problem in Canada. “We have the jobs but we don’t have the people to fill them”. Regan Cox said this was due to the “stigma (in Canada) against people who want to get their hands dirty.”
At the barbecue Oliver expressed his appreciation for meeting so many Guelph residents and businesspeople during the day.
