The federal government’s Economic Action Plan has been in place for several months now, and there is now plenty of evidence that it is helping Canada to overcome the ravages of recession.

Canada is recovering from worldwide economic problems faster than other G7 countries. Our economy grew this summer, which was the first economic growth in nearly a year. Consumer confidence has risen in seven of the last eight months. The acceleration this summer hiked home sales back above pre-recession levels in July. Employment figures released last week show stabilization in the labour market. These are all encouraging signs in the Canadian economy.

The government knows these are only the earliest stages of what is expected to be a fragile recovery. The past fiscal year has been the most difficult for the world economy since the Second World War. Given the strong position we established going into this period, Canada is handling the fallout and is the envy of the world.

We have been internationally recognized for our track record, our sound financial system, and our strong performance during the crisis. This week, the World Economic Forum once again confirmed Canada’s position as home to the world’s soundest banks. It also ranked Canada as the 9th most competitive economy in the world, which is much improved from being 14th under the previous Liberal government.

While our government laments every lost job in Canada, we have managed to keep employment on track. Job losses in the United States are now a full percentage point higher than in Canada – it’s the first time this has occurred in a generation.

Under Canada’s Economic Action Plan, the government took the necessary step of running short-term deficits to deliver targeted and timely stimulus in order to protect Canadians from the global recession. Our strong fiscal position made this spending affordable. We know Canadians don’t want to pass along our debt to future generations, and we will be reining in spending to avoid increasing taxes.

Our plan to implement The Home Renovation Tax Credit that was introduced in Budget 2009 is going to help homeowners save money and provide work for local trades people and suppliers. This innovative economic boost is twofold – it creates a great deal of work during tough economic times and enhances the value of thousands of homes across the country.

The economy is not where it needs to be yet, but the trend is heading in the right direction for a brighter and more prosperous tomorrow.

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The audio version of Garry's September 21, 2009 op-ed column can be heard by clicking here