Vladimir Putin

Wilson, Hon. Michael H.

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A meeting held jointly by The Canadian Club of Toronto and The Empire Club of Canada. A review of the Federal Budget announced one week previous to this address. Phase One of the government's strategy implemented over the past 16 months: spending reductions to halt the increase in the deficit, and policies to spur economic growth and job creation. A review of the accomplishments, with figures and statistics. Building on that success with the current budget. A continuation of the plan to achieve fiscal stability by the end of the decade. Improving the Canadian tax system. Measures for fiscal reform, with details and goals. Some remarks about the assumptions underlying the plan. Some projections about interest rates, oil prices, and bond market activities. Moving away from a resource-based economy. Creating jobs and reducing the deficit. Measures to reform Canada's system of social expenditures and related tax provisions. Efforts to make a more efficient and competitive corporate tax system. Proposals for Phase Two released later in the year. Sales-tax system reform. Proposals for public discussion. An overall strategy of an integrated framework in which fiscal and tax reform work together with trade policy, privatization, training programs, technology incentives, competition policy, regulatory reforms and other policies to prepare Canada for the 1990s. A promising future.

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