Minister of Finance Ralph Goodale returned to the theme of Canada’s need to improve its productivity at a speech in New York today.

Goodale told an audience of business leaders in New York that Canada will build on its current strong economic performance by boosting productivity growth. “Canada is not satisfied to have led the G7 in both employment and economic growth since we balanced our budget in 1997,” said Goodale. “We will not rest on our laurels. Rather, we intend to significantly boost our productivity growth so that we can meet the challenges of an aging population and increased global competition.”

In his remarks to the Canadian Association of New York, Goodale assured the government has made a pledge to continue investing in order to drive productivity growth, while maintaining balanced budgets or better, and continuing to reduce the federal debt.

He also stressed the importance of Canada’s close economic and social relationship with the United States. And, he suggested, Canada and the U.S. need to work together to resolve trade disputes in areas such as softwood lumber and live cattle exports. He noted that Canada is willing to work with the U.S. to resolve these issues, but added other options exist if negotiations fail.

“We will continue to use all of the dispute settlement mechanisms in our existing trade agreements to ensure that the rights of Canadian industries are protected,” Goodale stated. “Canadians are committed to open and flexible trade arrangements, but flexibility must work both ways.”