Canadian Monetary and Fiscal Policies Essay Example | Topics and Well Written Essays - 1750 words

Canadian Monetary and Fiscal Policies - Essay ExampleDespite the challenges that have characterized the West in the recent past, the last two years have not really been a sad fight for Canada. Despite the economic recession that affected most countries across the world, the rec overy process in the cuticle of Canada has rather been a positive degree affair often realized from the economic trend in the country. In these post recession days, Canada has narrated the highest economic growth rates in the G-7 economic block. Presently, Canadas financial position is certainly the strongest amongst the G-7 countries and this helps to confirm the proper economic policies of the Canadian government activity in the recent past. The focusing of the government in this regard is to ensure that the country remains attractive and economically stable for the purposes of investment funds and economic realization. The governments economic Action Plan, Budget 2011 was designed in a stylus to e nhance and promote the financial strength of the families in Canada, to create a competitive tax frame that attracts investment, to promote innovation and to bond the emerging trade relations between Canada and other countries. In any case, it has been realized that most of these policies have actually been realized in the process of economic recovery and the evidence relates to the fact that the country ranks the top in several economic respects across the world. Through the Economic Action Plan, the government has instituted various policies ad measures that have greatly benefited the country and continue to create positive economic impact on the face of the country. Through the plan, the government is committed to encourage the growth of skillful workforce in the economy through apprenticeships and experient trades which are indeed churning out thousands of skilled works into the Canadian economy. Presently, the government invests over $40 million annually towards the new App renticeship Competition concede (ACG) (Pasma 2012). This is in addition to the Apprenticeship Incentive Grant (AIG) which has been in existence for several years. Through these programs, it is realized that over 20,000 apprentices are rolled into the economy and get certified after the required period. The Canadian economic reinforcement has over the last two years largely depended on the countrys ability to exportation goods to other countries. While most countries in the West are trying to re-strategize and recover from the detrimental effects of the economic recession, the government of Canadas main preoccupation has always been the need to create the positive and friendly economic climate in order to enhance and improve the balance of trade for the country. In this respect, Canada has an advantage over the rest of the countries owing to the various policies that have always existed and have greatly been advocated by the government in the last two years. For instance, the Can adian financial system is certainly the strongest in the world. The institutions and household in Canada are also some of the financially stable units in the industrialized world. All these positivities are basically a consequence of the economic orientation which the Canadian government has always pushed for over the decades. Upon the realization of the fine effects of the financial meltdown, the government was at the forefront in enhancing its fiscal measures so as to boost the growth of the economy and create a stronger economy that can easily withstand the strong waves of the economic