Did You Know That… The Honourable Ted Menzies, Minister of State (Finance) announced that the Government is moving forward with several measures to protect Canadian consumers and help them achieve greater control over their own finances. Our Government’s top priority is the economy. Canadians work hard to build a secure future for themselves and their families. They deserve clear and relevant information to make the best decisions in reaching that goal. However, in the rapidly changing world of technology and markets, navigating this system can prove to be a challenge to consumers. As a result our Government, as part of Canada’s Economic Action Plan, is providing new measures to empower financial consumers through several new initiatives. The first initiative is the new Code of Conduct on Mortgage Prepayment Information, through which federally regulated financial institutions will now provide significantly more information to consumers -- many of whom are managing the biggest investment of their lifetime. We are also issuing regulations banning the distribution of unsolicited credit card cheques. Credit card cheques are considered cash advances, which generally incur higher interest rates and fees, and do not offer an interest-free grace period. Because Canadians deserve timely access to their own money, our Government has shortened the cheque hold period to 4 days and will grant immediate access to the first $100 dollars of any cheque cashed at a federal financial institution. This will be in effect as of August 1st. These measures will give Canadians important new tools to help them make well-informed financial decisions. For more information: http://www.fin.gc.ca/n12/12-025-eng.asp
Did You Know That… Our Government has invested in S&T with every successive Economic Action Plan reaching $11billion in 2010-2011. We know that science powers commerce and investments made today in science and technology result in job creation and economic growth. Our Government will continue our work to make the National Research Council a world class organization that is much more effective in generating new jobs and growth for Canada through science, technology and innovation. These investments and actions keep our economy strong, create high-quality jobs and ensure that Canada is a premier destination for the world’s brightest minds. For more information: http://www.marketwire.com/press-release/jobs-growth-and-prosperity-by-bringing-minds-to-market-1628408.htm
Did You Know That… Statistics Canada announced the Canadian economy grew +1.8% in the fourth quarter of 2011 and +0.4% in December. For 2011 as a whole, Canada’s economy expanded 2.5%. Canada’s continued economic growth in the fourth quarter and the over 610,000 net new jobs created since July 2009 (nearly 90% of them full-time jobs) are encouraging signs we’re on the right track for the economy and Canadian families. But we all know the global recovery is fragile – especially in the United States and Europe. Canada is not immune to global economic turbulence. The Economic and Fiscal Update projected 2.2% growth in 2011 based on the September 2011 survey with private forecasters.
That’s why the upcoming Economic Action Plan 2012 will remain focused on making Canada’s economy stronger for today and tomorrow, with prudent pro-economic growth initiatives and responsible spending of taxpayers’ dollars. For more information: http://www.statcan.gc.ca/daily-quotidien/120302/dq120302a-eng.htm
Did You Know That…The Honourable Rob Nicholson, Minister of Justice and Attorney General of Canada, welcomed the final vote in the House of Commons on the Safe Streets and Communities Act (Bill C-10). They encouraged all federal MPs to do the right thing: stand-up for victims in this country and vote to support the Safe Streets and Communities Act. Our Government is committed to keeping our streets and communities safe by getting tough on crime. Canadians gave our Government a strong mandate to crack down on child sexual offenders and on dangerous drug dealers who sell drugs to children and we are one step closer to achieving this. We promised to pass this important legislation within the first 100 sitting days of Parliamentary Session and our Government is delivering on that commitment. Canadians want and deserve to be able to feel safe in their homes and communities and that means that criminals need to be off our streets. The Safe Streets and Communities Act will help improve the safety and security of all Canadians. Our experience shows that toughening sentences does not create new criminals; it just keeps the existing ones in jail for a more appropriate period of time. We are putting a stop to the revolving door of justice. Our Government is committed to ensuring criminals are held fully accountable for their actions and that the safety and security of law-abiding Canadians and victims comes first in Canada’s justice system. For more information: http://www.justice.gc.ca/eng/news-nouv/nr-cp/2012/doc_32712.html
Did You Know That…The Government introduced the Protecting Canada’s Immigration System Act. Canada has the most fair and generous immigration system in the world; however, Canadians have no tolerance for those who abuse our generosity and who take unfair advantage of our country. Our government is committed to strengthening the integrity of Canada’s immigration system. Protecting Canada's Immigration System Act is the latest step taken by our Government to ensure that our immigration system is no longer being abused by foreign criminals, bogus refugee claimants and human smugglers. The Act will make Canada's refugee system faster and fairer. It will put a stop to foreign criminals, human smugglers and bogus refugees abusing Canada's generous immigration system and receiving lucrative taxpayer-funded health and social benefits. At the same time, this bill will provide protection more quickly to those who are truly in need. Canadians have given us a strong mandate to protect Canada's immigration system. We are acting on that mandate. For more information: http://www.cic.gc.ca/english/department/media/releases/2012/2012-02-16.asp