FINA Committee Report

Many would agree that Canada’s residents—and, indeed, residents worldwide—are living in an economic environment that prompts thoughts of the Great Depression. While some commentators are referring to recent years as “the Great Recession,” citizens worldwide should be comforted by the economic recovery that appears to be under way in a number of nations.

As our country moves forward and as decisions are made in an effort to bring about a prosperous and secure future for Canadians and Canadian businesses, the Committee thinks that the principles of debt management, expenditure restraint, and transparency and accountability must guide federal decision making as the economic recovery continues. While it is widely accepted worldwide that fiscal stimulus was required to assist an economic recovery, future generations must not be burdened by excessive current spending. In our view, implementation of our recommendations to “position” people, businesses and communities, coupled with the principles noted earlier, will result in decisions that ensure prosperity and a sustainable future. It is the future we want. It is the future we deserve. It is the future for which we must strive.