Here are excerpts from recent news articles on a few of the things Minister Oliver has been busy with. It’s good to see that he’s just as diligent as Jim Flaherty about protecting Canada’s economic health and taxpayers’ personal finances!
Feds say they’re not worried about Russia’s new food sanctions (August 9, 2014 – Toronto Sun)
OTTAWA — Russian President Vladimir Putin has halted the import of food products from Western nations that have imposed sanctions against his country.
“The big picture is our country has principled foreign policy and is standing with the Ukrainian people as they defend their democracy and sovereignty against aggressive action by Russia,” Finance Minister Joe Oliver told reporters Friday.
Russia produces little food domestically and is heavily reliant on foreign imports. According to Statistics Canada, two-way trade between Canada and Russia in agricultural and food products alone was worth $522 million in 2013. Canadian exports to Russia in 2012 were valued at $563 million, with the vast majority of that being fresh and frozen pork products and prepared and packaged seafood.
IMF calls on Canada, others to raise carbon taxes, cut income taxes (July 31, 2014 – The Canadian Press)
OTTAWA – The International Monetary Fund says Canada and other countries can improve their economies and environment by hiking energy taxes — while cutting them on people and capital. (They maintain that), while carbon-based energy was indispensable to economic growth during the past century, it has come with considerable costs.
The solution, the IMF says, is to tax energy to such a level that the revenue pays for energy’s environment and health costs. (According to their calculations, this would) roughly translate to a 52 per cent increase in the taxes applied to both gasoline and diesel (in Canada).
In an email response, Finance Minister Joe Oliver said the Canadian government rejects the recommendations.
“We will not impose a 52 per cent increase on gasoline and diesel taxes, which would hurt consumers and businesses,” he said. “High energy prices are already a serious competitive disadvantage for European industry and are causing a capital and business outflow to the U.S. Our objective is to reduce taxes on Canadian families and employers, not raise them.”
Gas tax funding now permanent, Finance Minister Joe Oliver announces (July 11, 2014 – cbc.ca)
Finance Minister Joe Oliver announced the federal government is making the federal gas tax fund a permanent fixture for supporting infrastructure projects in Ontario municipalities. Oliver said Friday morning in Toronto this means $3.87 billion will flow directly to municipalities in Ontario over the next five years. The finance minister called it steady, predictable funding.
Oliver gave examples of what the funding could pay for, listing public transit, highways, local airports, short-line rail, culture, tourism and sport recreational infrastructure.
The deal is part of the federal Conservative’s Building Canada Plan, which transfers $53 billion to Canadian local governments over 10 years.
Joe Oliver lectures Ontario, Quebec on debt, deficits (June 9, 2014 – CBC News)
Finance Minister Joe Oliver lectured Canada’s two largest provinces about their deficits and debt levels, saying he fears provincial governments will reverse the nation’s economic recovery by taking on too much debt.
Speaking at the International Economic Forum of the Americas meeting in Montreal on Monday, Oliver also urged the G7 economies to deal with their debt problems.
“I am concerned, frankly, that we may slide back, back to deeper budgetary deficits and higher debt,” Oliver said. “In these uncertain times, it is essential that governments achieve a solid fiscal grounding.”
