WINNIPEG — High school students at Winnipeg’s Gray Academy of Jewish Education were clearly eager to ask questions of Finance Minister Jim Flaherty when he spoke to them Jan. 11 at the Asper Jewish Community Campus’ Berney Theatre.

Finance Minister Jim Flaherty [Rhonda Spivak photo]

In his opening remarks Flaherty said that last year was “a very rocky time,” for the global economy.

But, he said, “I think we’ll see improvement in 2010, and 2011 will be even better,” and Canadians “can have some comfort” that an economic recovery is underway in this country.

Flaherty was in Winnipeg last week as part of pre-budget consultations. Gray Academy was the only school he visited on his trip.

He told students that the overall challenge globally is that the U.S. dollar is under a “lot of pressure due to the large U.S. deficit.” He added that Ottawa is running a deficit in these difficult financial times in order to encourage employment.

He also told the teens about the upcoming conference of G7 finance ministers that Canada is hosting in Iqaluit, Nunavut, on Feb. 5 and 6.

His opening address was relatively short, as he said he wanted time to answer the students’ questions, noting that it’s important for him to listen to the needs of businesspeople, university students and young people.

The students weren’t shy in querying the finance minister.

One of the first questions asked was whether Prime Minister Stephen Harper’s decision “to prorogue parliament would affect the economy.”

Flaherty said that it wouldn’t, and that what matters is “consumer confidence,” among other factors.

As well, he said, “because we won’t sit, I’ll be able to do more pre-budget consultation” and travel around the country listening to others’ ideas.

“A lot of good ideas come from listening,” he said.

Another student asked Flaherty about how the Canadian economy would be affected by the high Canadian dollar and weak U.S. dollar.

Flaherty responded that in “the short term, it’s very difficult for exporters,” but over the longer term, businesses can adjust. He said what concerns businesses is currency volatility. He noted that the higher Canadian dollar is a good thing for “those who want to buy more modern machinery” in order to upgrade their businesses.

When asked by a student how U.S. President Barack Obama’s “Buy America” plan will affect Canada, Flaherty responded that “for elected people, it’s easy to succumb to protectionist sentiment because it’s popular.”

After noting that Obama is under a lot of pressure, Flaherty said, “We have a NAFTA agreement with the U.S. and Mexico, and we expect compliance.”

He added that protectionism is very “short-sighted” for economic well-being.

Flaherty, who noted that he has “three 18-year-old sons,” spoke to the students about the need to plan for the future so that the economy will be in good shape when they graduate from university.

When asked by a student about his views on Iran, Flaherty said that the “prime minister has been very clear that we view the buildup of tools of aggression against Israel as unacceptable.”

Following his address, Flaherty was given a tour of the Asper Jewish Community Campus by Bob Freedman, CEO of the Jewish Federation of Winnipeg, and federation president Ben Cohen.