The past year has been a challenging one for the Canadian economy, as it has been for the economies of all industrialized countries. The global economic crisis put the fiscal and economic frameworks of all countries to the test. But Canada entered the recession with solid fundamentals — balanced budgets, decreasing debt and taxes, a strong financial sector and robust economic policies. Consequently, Canada is in a comparatively good position to effectively respond to this time of economic challenge.
The Industry Portfolio played a significant role in developing Canada’s resiliency and ability to weather the current crisis. Composed of Industry Canada and 10 other agencies, Crown corporations and quasi-judicial bodies, the Portfolio includes major instruments in the Government of Canada’s tool kit for building a competitive economy.
Industry Canada focuses on helping Canadians contribute to the knowledge economy and improving the country’s productivity and innovative capacity through three strategic outcomes:
To accomplish these outcomes, the Department focuses on developing effective marketplace framework policies and making strategic investments in key sectors to broaden Canada’s innovative capacity. In 2008–09, such measures included the following:
In January 2009, the government introduced Canada’s Economic Action Plan, which contained stimulative measures to respond to the global recession. Industry Canada and its Portfolio members played, and will continue to play, a central role in developing and implementing a significant number of these critical initiatives. These measures range from programs to upgrade research infrastructure at Canada’s universities and colleges, to helping small businesses bring innovative products to market, to supporting major tourism events, to enhancing community and recreational facilities and other municipal infrastructure in Ontario. For more information, visit the Canada’s Economic Action Plan website.
As a country, we are emerging from the recession by creating a climate that encourages innovation, productivity and competitiveness — helping Canadian industry move to the forefront of the global knowledge economy. Industry Canada, the Portfolio members, and other federal departments and agencies are working in partnership so that Canada continues to enjoy a high standard of living and a prosperous future.
It is my pleasure to present Industry Canada’s Departmental Performance Report for 2008–09.
Tony Clement
Minister of Industry
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