Contrary to Transport Minister John Baird’s claim that “we have the best financial situation of the G8 countries,” (Press Conference, August 31, 2009) the United States and the rest of our traditional G7 partners are outpacing Canada’s economic recovery, leaving Canadians concerned about their economic future and the country’s direction.
The Facts:
Canada’s economy shrunk more in the Second Quarter compared to the First Quarter than any of our G7 partners:
Japan 0.9 % Growth
Germany 0.3 % Growth
France 0.3 % Growth
United States 0.3 % Decline
Italy 0.5 % Decline
Britain 0.8 % Decline
Canada 0.9 % Decline
(Source: OECD, http://www.oecd.org/dataoecd/62/27/43514819.pdf, StatsCan)
