OTTAWA - On Friday, the Honourable Tony Clement, Minister of Industry, issued the following statement pursuant to the latest tentative agreement between General Motors of Canada Limited and the Canadian Auto Workers (CAW) union:

"This is a time for all stakeholders to work together in the interest of keeping a sustainable automotive industry in Canada.

"While General Motors' tentative agreement with the CAW in March was a step in the right direction, our due diligence told us that deeper cuts were needed before the Government of Canada could commit additional taxpayer dollars. As such, we acknowledge the CAW's latest agreement with the company as a further step in the restructuring of this industry toward a viable, sustainable future.

"Part of ensuring a viable and competitive industry involves reducing all-in labour costs, so we are encouraged that the two sides have been able to identify further savings. We will ensure that there is a viable long-term sustainability plan involving all stakeholders in place before we commit any additional taxpayer dollars."