Canada has been taken to task recently for its boastful and hectoring attitude towards Europe, but Flaherty’s speech shows no let up.
Fewer opportunities for exports, decline in domestic demand to blame.
CEO Akerson calls for Bush-era tax cuts and on cutting government spending
Prime Minister says government has prepared “contingency plans” if Canada is forced to contend with a second global recession.
The raise is in line with a recent deal for other German manufacturing workers.
The plant will close in about a year and will cost 150 jobs.
The Office for National Statistics said GDP fell 0.2 per cent in the first three months of the year from the previous quarter.
Federal and provincial government restraint will slice 0.7 percentage points from economic growth in 2013 and slightly more in 2014.
Lawyers said the company must make painful cuts in labour costs to survive in an increasingly competitive industry.
Ford’s cash generation and lower costs will give it the financial flexibility it needs to stay at investment grade in a period of economic stress.