On Tuesday, our Conservative Government announced new measures for Canada’s housing market to help protect our economic recovery.
Although there is no clear evidence of a housing bubble in Canada, our Conservative Government is looking ahead and taking prudent and cautious steps to help prevent one.
To help Canadians prepare for the possibility of future interest rate increases, our Government is taking action such as requiring that all borrowers meet the standards for a five-year fixed rate mortgage even if they choose a mortgage with a lower interest rate and shorter term. We are lowering the maximum withdrawal amount when refinancing mortgages and are now requiring a minimum down payment of 20 per cent for government-backed mortgage insurance on non-owner occupied properties.
Today’s announcement will help to prevent Canadian households from getting overextended, and will help to avoid situations where lenders facilitate the problem.
Our Government understands the importance of the mortgage and housing sector to the economy and the country. That’s why we took action in 2008 to limit the kinds of excesses that plagued other countries around the world.
As recognized by the International Monetary Fund as well as others, Canada’s regulation of our financial services industry ensured that we were in a much stronger position to weather the economic downturn.
Through today’s announcement, our Conservative Government is looking ahead to the future and taking action now, before there is a problem, to protect Canada’s fragile economic recovery.
On Tuesday, our Conservative Government updated Canadians on our actions and leadership in exercising our sovereignty and strengthening the economy of Canada’s North.
Our Government is firmly committed to asserting sovereignty over Canada’s Arctic lands and waters – taking into consideration the history, international law, and way of life of the Inuit and other Aboriginal peoples who have inhabited the region for thousands of years.
Our Northern Strategy focuses on strengthening Canada’s Arctic sovereignty, protecting the fragile northern environment, and promoting economic and social development; while at the same time, giving Northerners more control over their own economic and political future.
To fulfill our commitments to the North, our Government created the Canadian Northern Economic Development Agency, and is investing in future infrastructure projects in the North.
Our Government has long worked side-by-side with our international Arctic neighbours to deliver real results for the region. This relationship will continue to strengthen as we host the five Arctic Ocean coastal states in March, 2010.
Our Conservative Government is taking action for Canada’s North by working to assert our sovereignty, strengthen the economy, and put the region in position for a more prosperous future.
On Friday, our Conservative Government announced a successfully negotiated agreement with the Obama Administration that will allow Canadian companies to participate in U.S. infrastructure projects financed under the American Recovery and Reinvestment Act.
Our Government stood up for Canadians in resolving this issue with our American partners and the result is an agreement that will benefit both sides of the border.
Canadian suppliers will have access to projects under the Recovery Act in a range of areas, including programs of the U.S. Department of Energy; the U.S. Department of Housing and Urban Development; and the Environmental Protection Agency. Our Government and the Obama Administration have also agreed to establish a fast-track consultation process in the event that similar Buy American provisions are applied to future funding programs.
Furthermore, the agreement grants access to further opportunities under the World Trade Organization’s (WTO) Agreement on Government Procurement (GPA).
This negotiation with the U.S. is helping to create jobs in Canada as well as recognize the integrated nature of our two economies.
Looking ahead to the future, Canada and the U.S. have agreed to further discuss a more comprehensive and permanent agreement for increased opportunities between our two countries over the long-term.
Preserving and creating jobs is our Conservative Government’s priority. Our Conservative Government is delivering the right action for workers and businesses in Canada.
This is a reminder to our membership that we will be having our Annual General Meeting on Wednesday, February 24, 2010 at 7:00pm (registration at 6:30pm). The meeting will be held at the Montgomery Legion in the Garrison Sgt. Hall, 330 Kent Street – see map below.
Our special guest speaker will be the Hon. Gail Shea, Minister of Fisheries and Oceans. Gail Shea proves that all elections are winnable. Defying all odds, Gail has won Liberal strong-holds both in provincial and federal politics. In the provincial election in 2000, Gail became the Member of the Provincial Legislature for her western PEI riding, the first Conservative MLA to represent her region in almost 50 years. Again in 2008, Gail made history defeating a former Liberal premier and became the first Conservative to represent her Egmont PEI riding in the House of Commons in almost 30 years. No challenge is too big for Gail and her record of success proves she knows how to win!
For more information, please e-mail us at info@ottawacentreconservative.ca.
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On Monday, during the Ministerial Preparatory Conference on Haiti in Montreal, Prime Minister Stephen Harper rallied the international community to a strategic and coordinated effort to help rebuild Haiti.
The Prime Minister outlined three principles to guide the work of Haiti reconstruction:
- Sustainability – the world must commit to Haiti for the long-term.
- Effectiveness – resources must be directed to where they are most needed.
- Accountability – the commitments we make must be firm and lasting to ensure Canadian tax dollars are used effectively.
Last week, our Government was proud to announce Canada will provide an additional $80 million for humanitarian aid and assistance in Haiti. This brings our total response to a potential $135 million.
Furthermore, Prime Minister Stephen Harper and Laureen Harper recently visited the Canadian Red Cross office in Ottawa to make a personal donation towards the relief efforts in Haiti. Our Government is reminding Canadians that cash donations are the fastest, most efficient way to get help to people living in a disaster zone. We encourage all Canadians to contribute to the registered charity of their choice to help in the earthquake relief. In order to avoid potential fraud, we urge everyone to ensure that their charity of choice is a registered charity. More information can be found at: http://www.cra-arc.gc.ca/donors/index.html
To acknowledge the generosity of Canadians, our Government has also announced that we will match, dollar for dollar, Canadians’ charitable contributions to registered organizations for disaster assistance in Haiti. Thus far, over $30 million has been donated. This is in addition to the $5 million preliminary emergency contribution announced earlier this week.
To date, Canada has provided rapid response to the current situation in Haiti:
- A Canadian Forces DART (Disaster Assistance Response Team) team has been sent to Haiti.
- Canadian Forces aircraft are being dispatched daily to bring such things as emergency supplies, personnel, and search and rescue helicopters.
- These same planes are being used to bring Canadians home. To date, almost 1000 people have been brought safely back home.
- Within a short time, we will have approximately 2,000 men and women, seven helicopters and two ships contributing to rescue, recovery and reconstruction efforts in Haiti.
- The HMCS Halifax and HMCS Athabaskan, two Canadian naval ships loaded with food, bottled water, medical equipment and humanitarian supplies, have left for Haiti.
- A Canadian field hospital is now operating in Haiti.
- We are setting up expedited immigration procedures for Haitians with family in Canada.
- The Canadian Embassy in Port-au-Prince continues to provide emergency support to Canadian citizens in need.
Our Government offers our most sincere condolences to those who have lost friends and family in this terrible event. Our thoughts and prayers are with the Haitian people, as well as those who are worried about the safety and security of their loved ones.
Friends and relatives in Canada seeking information on Canadian citizens believed to be in Haiti should contact the Emergency Operations Centre by calling 1-800-387-3124. They may also send an email to sos@international.gc.ca.
Updates on the situation in Haiti are available at: http://www.international.gc.ca/humanitarian-humanitaire/earthquake_seisme_haiti.aspx.
