Event Summary:
Summary by
Frances Cation
Speech by Federal Minister Lisa Raitt
3 April, 2009
National Office, CIC
On Friday, April 3rd 2009, the Honourable Lisa Raitt, Minister of Natural Resources, gave a speech at the CIC Toronto Branch entitled “The Federal Government and Canada’s Mining and Energy Industries.” Bill Hearn introduced the Hon. Raitt, the Member of Parliament for Halton, by describing her work at the Toronto Port Authority.
The Hon. Riatt’s speech focused on Canada’s current energy and mining issues, including taxation and renewable energy. She highlighted the coordinated action against protectionism that world leaders made at the G20 Summit Meeting in London.
Riatt further noted that energy and mining are the mainstays of the Canadian economy, especially rural economy, as close to 60 percent of the world’s mining companies are owned by Canadian companies, in over 100 countries. Canada is also the world’s third largest producer of natural gas and the second biggest producer of hydroelectric energy.
Nevertheless, she added, the prices for minerals and oils are currently falling at a rate greater than during the Great Depression: the problems in the industry have already led to stalling and closing energy and mining-related projects. Riatt outlined the Canadian government’s response to assist this industry, including tax breaks and the Canadian Action Plan.
At the end of the event the Minister was thanked by CIC Toronto President Keith Martin. This event was sponsored by McMillan LLP.
View the event flyer: Flyer.
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