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Canada Calls for Decisive Action to Sustain Global Recovery

Toronto, Ontario, October 25, 2011
2011-105

The Honourable Ted Menzies, Minister of State (Finance), today reiterated the Harper Government's call for strong, united and decisive leadership, particularly from Europe and the Group of Twenty (G-20) countries, to deliver immediate and credible strategies for strengthening the global recovery.

Speaking at the fifth annual meeting of the Toronto Forum for Global Cities, Minister Menzies said, "The pervasive force of uncertainty is a major inhibitor to growth. Both Europe and the G-20 have important roles to play in restoring market confidence."

The Minister noted that Canada's economic and fiscal fundamentals remain sound, and cited the recent International Monetary Fund Fiscal Monitor that forecast Canada will continue to have by far the lowest total government net debt-to-GDP (gross domestic product) ratio in the G-7.

"The world has taken note of Canada's many strengths, giving significant credence to our position on the need for international cooperation in meeting the current economic challenges," Minister Menzies said. "The Harper Government will continue to be a strong advocate for the decisive actions necessary to maintain future growth and stability for the benefit of Canada and the whole world."