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A joint meeting of The Empire Club of Canada and The Canadian Club of Toronto.
Some remarks about a recent meeting in Paris, in which the speaker represented Canada at a meeting of finance ministers of the six major industrial countries. Some agreements made to deal with the underlying causes of the instability in the exchange markets. The setting of a follow-up meeting to take place at the Venice Summit. Comments on the budget announced one week prior to this address. The agenda and objectives for economic renewal, set in November of 1984. Dealing with the basic structural problems, improving the environment, allowing private sector growth and activity. A review of circumstances present when setting the budget. The challenge of fiscal management by the government. The need for a new direction in public management. The agenda as a blueprint for action. Some specific details, with statistics, of steps taken. The importance for youth to feel confident about the economic future. Fiscal responsibility as the cornerstone of the programme for economic renewal. Programmes with problems of regulation as a major obstacle to economic growth. Work done on the Competition Act, the Patent Act, and to come, the Bankruptcy Act. A detailed review of these and other accomplishments of the federal government. The national energy programme. Privatising Crown corporations. Promoting private-sector growth. Foreign investment. Recognizing the importance of small business. Supporting research and development. Tax reform. Corporate tax reforms.