Government Cash and Summit

Trudeau: And on lifting the world feeble economic growth, the G7 essentially pledged to continue with their own individual strategies, according to The Chronicle Herald. Heading into the summit, Trudeau had urged some of his more fiscally prudent counterparts to invest more government cash to generate growth. However, the ransom promise closely resembled a G7 pledge from three years ago, something experts say member countries didn't live up to. Still, while speaking to reporters in Shima, Japan, the prime minister said he felt the group moved forward significantly on a number of files during his first G7 summit. Each country will map out its own path, Trudeau noted. "Understanding that we do need to create a broad suite of measures to offset the challenges faced by low global growth is something that we are very much in agreement on," Trudeau said. "The concerted approach is to use the levers available to each of our economies in as fulsome a way as possible to create growth." The leaders vowed to use a more-balanced response to lift growth and agreed that monetary policy — such as benchmark interest rates — cannot alone create stronger, sustainable growth. On the economy, he said there was a broad understanding that monetary and fiscal policy, as well as structural reforms, are all important for enhancing global growth. (www.immigrantscanada.com). As reported in the news.