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The following Economy In Brief has just been posted on the Finance Canada Site.

Overview
* In the third quarter of 2007 real gross domestic product (GDP) grew 2.9%, down from a 3.8% pace in the second quarter.
* Domestic demand growth remained solid. Real final domestic demand rose 4.6% compared to 4.9% in the second quarter. Business inventory accumulation was $15.4 billion after a smaller buildup of $4.5 billion in the second quarter.
* Real imports grew more than real exports, moderating real GDP growth and narrowing the nominal trade surplus and the current account surplus (the amount that receipts from non-residents exceed payments to them). The current account surplus decreased by $21.2 billion to $4.2 billion, falling to 0.3% of nominal GDP from 1.7% in the previous quarter.
* A healthy labour market has underpinned domestic demand growth. Employment rose 1.7% in the third quarter, up from 1.3% in the second quarter. In November, the unemployment rate was 5.9%, up slightly from 5.8% in October when it was at its lowest level in nearly 33 years.

Additional: Economy In Brief / PDF Version

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The following News Release or Speech has just been posted on the Finance Canada Site

Ottawa, December 28, 2007
2007-112

Canadian families, students, workers, seniors, and businesses large and small will continue to keep more of their hard-earned money in 2007 and 2008 thanks to substantial new tax reduction measures introduced in 2007 by the Government of Canada. Since coming to office in 2006, the Government has taken action that will by 2012-13, reduce the overall tax burden for Canadians and businesses by about $200 billion, to its lowest level in nearly 50 years.

“Since coming to office, we have reduced taxes in every way we collect revenues,” said the Honourable Jim Flaherty, Minister of Finance. “The measures introduced just in the last year show how our Government is putting Canadians first by keeping our promise to reduce taxes. Together, we are building a legacy of tax relief we can all be proud of.”

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The following is now available on the CRA Web site:

News release

The Minister of National Revenue announced the Canada Revenue Agency’s Action Task Force on Small Business Issues Report: Helping Small Businesses by Reducing the Compliance Burden

Regina, Saskatchewan, April 11, 2007… Minister of National Revenue Carol Skelton today released the final report of the Canada Revenue Agency’s (CRA) Action Task Force on Small Business Issues, titled Helping Small Businesses by Reducing the Compliance Burden.

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The following News Release or Speech has just been posted on the Finance Canada Site

Release at 8:15 a.m. EDT
Ottawa, April 4, 2007
2007-030

The Department of Finance announced today that Canada’s official international reserves increased by an amount equivalent to US$2,999 million during March to US$39,309 million.

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The following News Release or Speech has just been posted on the Finance Canada Site:

The Goal of Budget 2007 Is to Make a Stronger, Safer, Better Canada

Ottawa, March 18, 2007
2007-021

Whitby – The Honourable Jim Flaherty, Minister of Finance, will deliver the second budget of Canada’s New Government tomorrow in the House of Commons. Budget 2007 will restore fiscal balance within the Canadian federation, outline a series of initiatives to protect the environment and further reduce the tax burden on working families and businesses.

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