On June 27, 2011, the House of Commons Standing Committee on Finance (hereafter the Committee) launched the 2011 pre-budget consultations with an invitation for Canadians to participate in the consultation process by providing their views about how to achieve a sustained economic recovery in Canada, create quality, sustainable jobs, ensure relatively low rates of taxation and achieve a balanced budget.

While Canada did relatively better than most industrialized countries during the global financial and economic crisis that started in 2008, the nation’s economic recovery is likely to be affected by a range of global and domestic factors and uncertainties: the continued fragile recovery in the United States, record-high levels of sovereign debt in some European countries, natural disasters, the impact of a high relative value of the Canadian dollar on various sectors, concerns regarding the level of personal indebtedness in Canada and the aging of Canada’s population, among others. With these factors and uncertainties providing context for the future of Canada, this report summarizes the recommendations that were made by the Committee’s witnesses, in person and/or through a written brief, and presents the Committee’s recommendations for the next federal budget.

Federal finances are often a concern for taxpayers, both personal and corporate. Chapter 2 considers the nation’s economy and federal spending.

Governments are often focussed on taking the actions that are necessary to ensure strong businesses, since they — like strong communities and people — are contributors to a nation’s prosperity. For businesses, adequate access to affordable financing to become established and to expand into new products and markets, corporate and trade-related tax provisions that are fair and support growth, suitable regulations that exist for sound public policy reasons, properly enforced trade agreements that assure market access, and support for research and innovation that enhance productivity and provide the products that consumers want are thought to be key contributors to success. Chapter 3 comments on access to financing, various corporate tax matters, regulations, tax simplification, a number of issues related to international and internal trade, and research and innovation.

People live in, and businesses sell their goods and services in, communities that, ideally, are strong. Strong communities are another priority for governments. In supporting communities and helping to assure their strength, governments, businesses and people may focus on adequate and functional infrastructure, a healthy and safe environment, housing, arts and culture, charitable and volunteerism measures that contribute to a high quality of life, the unique needs of certain communities and support for those in other nations. Chapter 4 examines infrastructure, the environment, housing, arts and culture, charities and volunteerism, rural and remote communities, and domestic safety and security.

A common goal for governments is strong people, people who are taxed appropriately, who are healthy and well-educated, and who have needed supports whether in or out of the labour force and in retirement. Certainly, strong people are better able to enjoy life, make meaningful contributions at their workplace and in their communities, and be an integral part of their nation’s prosperity. Chapter 5 discusses strong people, with a focus on personal taxation, health, education, job and other supports, and pensions.

The report concludes with Chapter 6, which provides the Committee’s final thoughts about strong federal finances, businesses, communities and people, all of which — in the Committee’s view — contribute to a resilient nation and a sustained recovery.