Ottawa, June 9, 2008

Archived - Providing Responsible Leadership in a Period of Global Economic Uncertainty

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The Honourable Jim Flaherty, Minister of Finance, today welcomed the passage of Bill C-50 by the House of Commons. The legislation will implement key measures from Budget 2008, such as the Tax Free Savings Account, initiatives to modernize Canada's immigration system, increase funding for more front line police officers and public transit across Canada, and increase support for post-secondary students.

"In a time of economic uncertainty, our government is providing responsible leadership by focussing on our priorities, cutting taxes, and investing in people, knowledge and communities," said Minister Flaherty. "Bill C-50 is a balanced, focused, and prudent bill that will strengthen our economic fundamentals and better position Canada to compete in the highly competitive global economy."

The key measures in Bill C-50 will:

Minister Flaherty highlighted that this year alone the federal government is injecting $21 billion of stimulus into the Canadian economy as a result of all its tax measures.

"This is an important piece of legislation that will benefit Canadians in a number of ways," said Minister Flaherty. "I encourage all Senators to take the steps necessary to ensure Bill C-50 gets a speedy passage through the Senate."

For further information, media may contact:

Chisholm Pothier
Press Secretary
Office of the Minister of Finance

David Gamble
Media Relations
Department of Finance

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