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June 22, 2007
For immediate release

Stronger Economic Union Tops Treasurer’s Federal-Provincial Agenda

Provincial Treasury

Strengthening Canada’s economic union for the benefit of Prince Edward Island was a major topic at a meeting this week of federal and provincial Finance Ministers, says Provincial Treasurer Wes Sheridan.

“I was pleased to see the willingness around the room to pursue ideas that will help set the stage for continued economic and social progress on Prince Edward Island,” Mr. Sheridan said.

“As a growing exporter, Prince Edward Island will benefit from measures that improve the flow of trade between provinces and strengthen Canada’s economic union.”

Mr. Sheridan met with his federal and provincial counterparts in Quebec on June 20, 2007.

Nationally, the country is experiencing the second longest period of economic expansion in history. Canada’s unemployment rate is the lowest in a generation; government and personal financial positions are strong, and inflation remains contained.

“To a degree, Prince Edward Island has shared in this national success. However, I do believe that a great deal of work remains to be done so that Prince Edward Island enjoys a much greater share of this growing national prosperity.”

In addition to the discussion over improvements to economic union, the Ministers also discussed a series of tax measures included in the 2007 federal budget. They include the Working Income Tax Benefit (WITB) which will improve work incentives for low-income Canadians. Another tax matter was the Registered Disability Savings Plan (RDSP) which will assist parents and others save for the long-term financial security of a child with a severe disability.

“These programs have the opportunity to improve the lives of low-income and disabled people. Work will continue in collaboration with the federal government to implement these programs,” Mr. Sheridan said.

Media Contact: Island Information Service
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