PRESS RELEASE: History passed her by

For Immediate Release
29 June 2009

London-Fanshawe NDP MP Irene Mathyssen has introduced a protectionist “Made in Canada” bill to Parliament, apparently oblivious to the lessons of history.

The United States Congress passed the “Smoot Hawley” Tariff Act in 1930, igniting a wave of global protectionism and leading directly to the widening and deepening of the Great Depression. Various interventionist measures the American administration and Congress applied to the American economy throughout the 1930s are now thought to have increased the length of the Great Depression by seven years.

Closer to the present, can Ms. Mathyssen be unaware of the huge increases in Canadian job numbers and prosperity that were directly attributable to the passage of the Free Trade Act and subsequent adoption of NAFTA, or the role of tax reduction in reigniting the global economy during the 1980’s? While the FCI understands that Ms. Mathyssen’s and the NDP’s primary supporters are from unions that were unwilling to adapt to these changes, we urge her to remember that she represents all the constituents of her riding — not just the ones seeking bailouts and protection from the forces of the global economy.

The cost to Canadian manufacturers of “Made in America” provisions in recent stimulus packages should serve as a caution to our own proponents of protectionism. Ms Mathyssen should withdraw this counterproductive bill in Parliament and begin to work to unleash the creative economic power of all Canadians as a means of countering the economic crisis and bringing growth and prosperity to all Canadians.

Contact:

Forest City Institute
PO Box 39071
London ON. N5Y 5L1
Phone (519).438.8606
www.forestcityinstitute.ca