Pension system to see 'major' changes to cut costs

[guest]

Ottawa will transform the country's pension system to curtail government costs, but details won't come until the budget, Prime Minister Stephen Harper said in Davos.

In a major speech to global movers and shakers at the World Economic Forum in Davos, Switzerland on Thursday, Harper also signalled looming reforms in immigration as well as research and development — all in the name of ensuring Canada's economy is on a strong footing.


The idea, he said, is to position Canada as a more competitive force in the global economy and to confront the pressures of an aging population.

"In the months to come, our government will undertake major transformations to position Canada for growth over the next generation," Harper said in an address to several dozen of the 2,600 forum delegates.


Despite the immediate audience, the speech was aimed as much at voters back home as it was at international business and political leaders.

The prime minister also reiterated a commitment to streamline environmental approvals for major energy projects and said he would press ahead with developing ways to export energy to Asia.

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