Conservatives fail to invest millions meant for regional economic development and job creation

With the recent wave of job losses and the country’s uncertain economic outlook, the NDP is troubled to learn that the Conservative government left millions of dollars sitting in government coffers, rather than investing the money in job creation.

“We know that each year, the Conservatives have been leaving funds that Parliament voted on, just sitting in the bank. This sneaky austerity is hurting young entrepreneurs and stalling job creation in Canada,” said NDP Industry critic Peggy Nash (Parkdale—High Park).

From 2010 to 2014, over $500 million allocated to Canada’s regional economic development agencies went unspent. That accounts for almost ten percent of the total amount allocated to these agencies.

“The purpose of these agencies is to promote job creation,” said Nash. “We are asking the ministers responsible to invest the funds that Parliament allocated in the current fiscal year immediately—not use the money to embellish their fiscal outlook in April. Our regional economies need it.”