Finance Minister Jim Flaherty (Whitby-Oshawa, ON) announced the appointments of Les O’Brien, of Nova Scotia, and Peter M. Klohn, of New Brunswick, to the Advisory Committee of Participating Provinces and Territories to the Canadian Securities Transition Office (Transition Office). They replace outgoing committee members Professor Dawn Russell of Nova Scotia and William E. Belliveau of … Read more
Finance Minister Jim Flaherty (Whitby-Oshawa, ON) and Minister of Finance for Ontario Dwight Duncan announced the divestiture of Canada’s remaining interests in Chrysler Group LLC. Flaherty said Canada has now sold its remaining interests in Chrysler Group LLC to Fiat for US$140 million, fulfilling the government's commitment to exit from ownership of Chrysler as quickly … Read more
Finance Minister Jim Flaherty (Whitby-Oshawa, ON) announced proposed amendments to the provisions in the Income Tax Act concerning the income tax treatment of specified investment flow-through entities, real estate investment trusts and publicly-traded corporations. Flaherty said these proposed measures will ensure that the policy objectives of the Tax Fairness Plan continue to be met. The … Read more
On behalf of Finance Minister Jim Flaherty (Whitby-Oshawa, ON), Conservative MP Brian Jean (Fort McMurray-Athabasca, AB) announced that the Government of Canada will contribute up to $3.8 million in funding to the Lac La Biche Biological Nutrient Removal Wastewater Treatment Facility. Jean said this new wastewater treatment facility will help Lac La Biche County create … Read more
Finance Canada released its numbers for Canada's Official International Reserves. The department said Canada’s official international reserves decreased by an amount equivalent to US$1,514 million during June to US$62,488 million. The full release is available online. Call 613-996-8080.
The Department of Finance announced that it is inviting stakeholders to comment on a proposal made in Budget 2011 as part of a package of initiatives to strengthen the regulatory framework applying to registered Canadian amateur athletic associations. Finance Canada said stakeholders are invited to provide feedback on the proposal to require RCAAA's to operate … Read more
Finance Minister Jim Flaherty (Whitby-Oshawa, ON) launched public consultations aimed at developing a framework for the demutualization of federally regulated property and casualty mutual insurance companies. Flaherty said the government intends to develop a framework that will allow an orderly and transparent conversion from a mutual company to a share company, while ensuring that policyholders … Read more
Finance Minister Jim Flaherty (Whitby-Oshawa, ON) congratulated Christine Lagarde on being selected Managing Director of the IMF. Flaherty said that he has no doubt that Lagarde will do an excellent job in leading the Fund. Her extensive legal, economic and political experience will serve her well in her new responsibilities. The full release is available … Read more
Canada and Australia made a joint statement on the selection of the managing director of the International Monetary Fund. Agustín Carstens and Christine Lagarde are the two candidates for the position. Canada and Australia said both countries look forward to the decision of the IMF Executive Board and to working closely with the next Managing … Read more
In a speech to the International Insurance Society, Finance Minister Jim Flaherty (Whitby-Oshawa, ON) described how Canada’s financial system weathered the recent global financial crisis and why Canada has become a more influential voice on the world stage as a result. In his address, the Minister noted that Canada’s banking system has been ranked the … Read more
