OTTAWA — The federal government has pledged to open its doors to foreign ownership in the satellite and telecommunications sector, and keep taxes “competitive and low” in efforts to prepare Canada for the global economy in the post-crisis world, it said Wednesday in its Speech from the Throne.

There are also promises of launching a digital economy strategy, providing “enhanced support” for skills training, removing unnecessary regulation, and taking “further steps” to support the competitiveness of the country’s manufacturing sector.

This may signal the federal government is unlikely to pare corporate subsidies despite calls from some economists that it should instead rely on lower corporate taxes to support growth.

And in a sign that it’s serious about fiscal restraint, the Conservative government signalled it will introduce legislation that would freeze legislators’ salaries, while also freezing the budgets of government departments and ministers’ offices.

Roughly half of the speech, which kicks off the latest session of the economy, is dedicated to the economy. Even though a recovery is well under way, the government said, “It would be a mistake to declare the recession is completely behind us.” [Read More]