Budget 2009 – Canada’s Economic Action Plan

January 29, 2009

 

Truly these are extraordinary times that call for extraordinary measures. On January 27th, 2009, the federal government laid out its plan to stimulate the economy and secure Canada’s long-term prosperity.

Canada’s Economic Action Plan includes:

Initiatives to stimulate the economy:

• Income and payroll tax cuts to boost income and get the economy working again;
• A home renovation program to spur construction, create jobs, and help Canadians improve their homes;
• Roads, bridges, buildings and other infrastructure to boost the economy, create jobs and make Canada stronger for the long-term;
• Post secondary education funding to prepare for the jobs of the future.

Initiatives to protect the economy:

• Increases in the support under Employment Insurance for Canadians who have lost their jobs;
• Skills training to help people get back into the workforce; and,
• Significant money to help communities hardest hit by the downturn.

Measures to help Canadians and businesses deal with availability of financing:

• Up to $200 billion in financing available to credit worthy borrowers. This initiative will provide support to the small and medium sized businesses that drive our economy, so they can invest in their operations to help grow, create and maintain jobs.

Our government recognizes that unique challenges across the country have resulted from this recession, which will require region-specific solutions. Initiatives that will benefit Northern Alberta include:

• $1.9 billion for skills upgrading and $1.9 billion to strengthen benefits for the Employment Insurance program
• Accelerates payments up to $75 million over two years for infrastructure projects in Alberta.
• Supports the forestry sector with $170 million nationally over two years.
• An investment of $500 million nationally in the agriculture industry; and
• Accelerated payments up to $75 million over two years for infrastructure projects in Alberta.

The targeted and temporary measures put forward in Budget 2009 will build on Canada’s long-term strengths, while helping to address short-term challenges.

We can be confident that Canada’s Economic Action Plan provides the stimulus and tax relief required to help Canadians weather this global recession and allow us to emerge a stronger country once the storm passes.  I believe that, together, we are on the road to building a better tomorrow and taking an exciting step forward to a prosperous future.

Brian Jean, MP
Fort McMurray – Athabasca
Parliamentary Secretary to the Minister of Transport, Infrastructure & Communities