Harper Takes Action with Fragile Economy despite Recovery
Due to the observed fragility of Canada’s economy despite the ongoing recovery of the country from recession, Prime Minister Harper points out concentration on all levels of industry.
Funding the technologies of Linamar is one of the actions that Harper believes to become part of the solution.
Canadian Prime Minister Stephen Harper expressed this Monday his observations that even if the recession has ended technically, the ongoing recovery in the economy still remains to be fragile.
There are certain sectors in the country that still need some attention because these are the ones that are hit by the effects of the crisis. These sectors include southern Ontario’s automotive industry and some smaller towns that make up the industry of forestry. According to Prime Minister Harper, these are the key sectors in Canada that needs assistance. He also added, talking at the Ontario-based Linamar Corp’s technology training center Guelph, that while the recovery is still ongoing and fragile, concentration at all levels is actually needed.
The purpose of Prime Minister Harper while at the center is to announce the funding to the development of green and fuel-efficient automotive technologies of Linamar. This amounts to $54.8 million which is a repayable contribution to Linamar—considered being the second largest auto parts manufacturer in Canada next to Magna International. The company has recorded global sales of over $2.2 billion having employed 9,000 workers globally.
The investment in Linamar is considered by Harper as the key part in the economic action plan of the government that will soon ease the hard effects of the worldwide recession. In line with this, signals coming from the Central Banks of Canada and the United States imply that these countries have economies rising above recession.
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