N E W S   R E L E A S E

ECONOMIC IMPACT ON CANADA

OF THE SEPTEMBER 11, 2001 TERRORIST ATTACKS

FOR IMMEDIATE RELEASE

Ottawa, October 25, 2001 – The House of Commons Standing Committee on Industry, Science and Technology announced today the commencement of its study of The Economic Impact on Canada of the September 11, 2001 Terrorist Attacks.

“This study will go beyond the immediate border measures taken in response to the September 11, 2001, terrorist attacks,” says Susan Whelan, M.P. (Essex), Chair of the Committee. “We will investigate the long-term economic impacts on major Canadian industries of all consequential government and industry actions, focusing on the larger and probably as of yet unanticipated impacts that will eventually ripple through the Canadian economy.”

In the wake of the terrorist attacks on the World Trade Center and the Pentagon, new security regulations, such as air, train and seaport terminal security measures, airline safety practices, port and border entry and exit procedures, and export-import clearance rules, will have to be adopted both in Canada and the United States.  The economic conditions for industry in Canada and cross-border trade between Canada and the U.S. will clearly be affected by these changes. First on this list are the many border communities and Canada’s largest export/import industries, but the list does not end there. The main suppliers and consumers of these export/import industries and the many tourist-dependent communities that are situated some distance from the Canada-U.S. border will also be adversely affected.

The task of the Committee is to anticipate these many but not so obvious consequences, and advise governments and regulators on how to effectively respond to the post-September 11^th environment in a way that minimizes any adverse impacts on the Canadian economy. The Committee proposes to invite all major industry stakeholders to define their specific circumstances; identify the new problems they face; describe their immediate and longer term responses and specify the actions they believe governments (federal, provincial and municipal) should take. Participants will thus define the scope of the Committee’s inquiry.  The Honourable Brian Tobin, Minister of Industry, will open the special sessions on Tuesday, October 30, 2001 at 8:30 a.m. in room 237-C of the Center Block.

The Committee also intends to hear from American interests and will issue a report to Parliament for the government’s consideration upon concluding its deliberations.

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Members of the Committee are: Susan Whelan, Chair (Essex); Walt Lastewka, Vice-Chair (St-Catharines); Charlie Penson, Vice-Chair (Peace River); Larry Bagnell (Yukon); Claude Drouin (Beauce); Stéphane Bergeron (Verchères-Les-Patriotes); Bev Desjarlais (Churchill); Jocelyne Girard-Bujold (Jonquière); Preston Manning (Calgary Southwest); Dan McTeague (Pickering-Ajax-Uxbridge); James Rajotte (Edmonton Southwest); Andy Savoy (Tobique-Mactaquac); Brent St. Denis (Algoma-Manitoulin); Chuck Strahl (Fraser Valley); Paddy Torsney (Burlington); Joseph Volpe ( Eglinton-Lawrence).

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