Newmarket and Aurora Mayors Approve Budget
The budget will be good for Newmarket, Aurora, York Region and the GTA. It is good to see the positive comments from Aurora Mayor Phyllis Morris and Newmarket Mayor Tony Van Bynen.
-Darryl
http://www.yrng.com/News/Newmarket/article/87216
http://www.yrng.com/News/Newmarket/article/87217
Mayor Phyllis Morris
"There's a lot of money going into infrastructure and that's a good thing,"
Mayor Tony Van Bynen
"There are a couple of things in there that, from our perspective, look promising,"
Ontario Premier Dalton McGuinty also supports budget:
"This prime minister has actually delivered. I'm not going to look this gift horse in the mouth,"
"It's real, it's meaningful and it's coming here just in time,"
http://toronto.ctv.ca/servlet/an/local/CTVNews/20090128/budget_EI_090128/20090128?hub=Toronto
Update: Lois Brown comments on Budget
Lois Brown MP, Newmarket-Aurora
MP Brown Announces Budget 2009: Canada's Economic Action Plan
January 28, 2009
(Newmarket-Aurora, ON) - Newmarket-Aurora MP Lois Brown says the Conservative government tabled Budget 2009 - Canada's Economic Action Plan will provide a much needed boost to local residents and businesses.
While Canada is coping with a global economic downturn, our plan will ensure we emerge even stronger as the economy recovers, said Ms. Brown. Canada's Economic Action Plan's targeted and temporary measures will build on Canada's long-term strengths, while helping address short-term challenges.
The plan will provide almost $30 billion in support, equivalent to 1.9% of GDP, to the Canadian economy this year. Ontario will especially benefit from the plan, through:
Action to Build Infrastructure by providing Ontario with its share of $4.5 billion over two years for infrastructure projects such as road, water and sewer system upgrades across the province. It also accelerates payments up to $75 million over two years for additional infrastructure projects.
Action to Reduce Taxes and Freeze EI Rates by providing the people and businesses of Ontario with tax relief of $9.1 billion over the next five years and providing billions to keep EI rates low for 2009-10.
Action to Stimulate Housing Construction by providing billions to build quality social housing, stimulate construction and enhance energy efficiency. The new renovation tax credit will provide up to $1,350 per homeowner, which will benefit Ontario homeowners by up to $1.3 billion over two years.
Action to Improve Access to Financing for businesses to obtain the resources they need to invest, grow and create new jobs and give consumers the adequate financing they need.
Action to Help Canadians Hit Hardest by the Economic Downturn including enhancements to Employment Insurance and more funding for skills and training.
Support for Businesses and Communities by protecting jobs and supporting sectoral adjustments during this extraordinary crisis with $7.5 billion in extra support for sectors, regions and communities such as the forestry and manufacturing sectors.
In addition to these measures, Ontario will continue to receive historically high and growing federal transfers in 2009-10 that will total $15.8 billion - an increase of $1.5 billion from last year and a $4.3 billion increase over the former Liberal government. What's more, Ontario will see growing health ($9.6 billion) and social ($4.2 billion) transfers to help the province pay for vital health care, educational and social services families depended on.
Ms. Brown was pleased to see many of the suggestions she received during her Pre-Budget Consultations were included in Canada's Economic Action Plan. Residents and businesses alike were looking for help, said Lois Brown. Many of them took the time to provide their suggestions and opinions which I had forwarded to the Minister of Finance. I am very pleased to say that many, if not most, of these suggestions were included. This is good news for small business owners, employees, seniors, families, young people and large employers in Newmarket and Aurora. I will be working diligently with all levels of government in the weeks ahead to ensure our community participates to the fullest extent possible in these available measures.
The Government has listened to the concerns of Canadians. Budget 2009 - Canada's Economic Action Plan - includes the top six suggestions for stimulating our economy suggested from people in Newmarket and Aurora, added Lois Brown. Residents wanted reduced taxes, access to credit, spending on infrastructure such as roads, bridges and public transit, investments in green and high-tech jobs, improved Employment Insurance and worker training programs and a stimulated housing sector. I am confident that with measures targeted towards these and other areas, our economy will get back on track and that jobs will be maintained and created in Newmarket and Aurora.
-30-
Lois Brown, MP Newmarket-Aurora
16600 Bayview Ave., Suite 206
Newmarket ON L3X 1Z9
905-953-7515
BrownLo@parl.gc.ca
www.loisbrown.ca
***
BUDGET 2009 BACKGROUNDER
ACTION ON INFRASTRUCTURE
Provincial, Territorial and Municipal Infrastructure
* $4 billion Infrastructure Stimulus Fund over two years to provide funding to rehabilitate infrastructure.
* $1 billion over five years for a Green Infrastructure Fund for projects including sustainable energy.
* $500 million over two years to create Recreational Infrastructure Canada, or RInC, to support construction of new community recreational facilities and upgrades to existing facilities across Canada.
* $500 million over the next two years to accelerate infrastructure projects in small communities.
* $1 billion in accelerated payments under the Provincial-Territorial Base Funding Initiative to expedite “ready-to-go” infrastructure projects.
* $25 million for the National Trails Coalition in 2009-10 for a national initiative to create, upgrade and sustain trails throughout the country.
Infrastructure for the Jobs of Tomorrow
* $2 billion to support maintenance, and repair, and to accelerate new projects at post-secondary institutions.
* $225 million to develop and implement a strategy on improving broadband coverage to extend and upgrade service for underserved communities.
* $750 million to accelerate investments under the Canada Foundation for Innovation, with at least $125 million earmarked for clean-energy research.
* $85 million over the next two years to invest in maintaining or upgrading key existing Arctic research facilities.
* $250 million over two years to maintain facilities at federal laboratories.
* $500 million to Canada Health Infoway to support the goal of having 50 per cent of Canadians with an electronic health record by 2010.
* $50 million to the Institute for Quantum Computing in Waterloo, Ontario for the construction of a new world-class research facility.
* $500 million to Canada Health Infoway to encourage the greater use of electronic health records
Federal Infrastructure Projects
* $130 million for improving travel across Canada with improvements to the Trans-Canada highway.
* Up to $42 million for other federal bridges in need of rehabilitation throughout Canada.
* $217 million to build and improve core commercial fishing harbours across Canada.
* $323 million over two years for the renovation and upkeep of federally owned buildings.
* Supporting the development of aviation security plans, improving operations of the Canadian Air Transportation Security Authority, and implementing a new air passenger assessment system.
* Increasing funding by $80 million over the next two years to accelerate the cleanup of federal contaminated sites.
* The government will invest $80 million to ensure that Canada’s shared border with the United States remains secure and efficient.
* $407 million to VIA Rail Canada to support improvements to the Quebec City to Windsor corridor. These investments will support two additional express trains per day between Montreal and Toronto and reduce trip times by approximately 30 minutes from four-and-a-half hours to four hours.
* $72 million over five years to improve railway safety.
ACTION ON TAX RELIEF
Tax Initiatives ($20 billion over this and next five years)
* The basic personal amount will be increased to $10,320 for 2009 from $9,600 in 2008, allowing individuals to earn more income before paying federal income tax.
* The top of the first personal income tax bracket will be increased to $40,726 in 2009 from $37,885 in 2008, allowing more income to be taxed at the lowest 15% rate, rather than the 22% rate.
* The top of the second personal income tax bracket will be increased to $81,452 in 2009 from $75,769 in 2008, allowing more income to be taxed at the 22% rate, rather than the 26% rate.
* The new basic personal amount and bracket thresholds will be indexed for 2010 and future years.
* Raising the level at which the National Child Benefit supplement for low-income families and the Canada Child Tax Benefit are phased-out, providing a benefit of up to $436 for a family with two children.
* Effectively doubling the tax relief provided by the Working Income Tax Benefit to help low-income Canadians over the “welfare wall” and into gainful employment.
* Providing up to an additional $150 of annual tax savings for low- and middle-income seniors through $1,000 increase to the Age Credit Amount, for a total savings of $961.
Tax and Tariff Relief to Stimulate Business Investment
* Introducing a temporary 100 per cent capital cost allowance (CCA) rate for computer hardware and software acquired after January 27, 2009 and before February 1, 2011.
* Extending the temporary 50 per cent straight-line accelerated CCA rate to investment in manufacturing or processing machinery and equipment undertaken in 2010 and 2011.
* Providing over $440 million in savings for Canadian industry over the next five years by permanently eliminating tariffs on a range of machinery and equipment to lower costs for Canadian producers in a variety of sectors, such as forestry, energy and food processing.
§ The tax measures proposed in Budget 2009 along with other measures announced since Budget 2006, including the reduction of the general corporate income tax rate to 15 per cent by 2012, will provide almost $12 billion in tax relief to manufacturers and processors in 2008–09 and the next five fiscal years.
ACTION ON CANADIAN SKILLS AND TRANSITIONS
Strengthening Benefits for Canadian Workers ($1.9 billion)
* Extending work-sharing agreements by 14 weeks, to a maximum of 52 weeks, so more Canadians can continue working.
* Extending the Wage Earner Protection Program to cover severance and termination pay owed to eligible workers when an employer does not pay due to its bankruptcy.
* Increasing for two years all regular Employment Insurance (EI) benefit entitlements by five extra weeks and increasing the maximum benefit duration to 50 weeks from 45 weeks.
* Providing $500 million over two years to extend EI income benefits for Canadians participating in longer-term training, benefiting up to 10,000 workers.
* Consulting with Canadians and developing options to provide self-employed Canadians with access to EI maternity and parental benefits.
Enhancing the Availability of Training ($1.8 billion)
* Increasing funding for training delivered through the EI program by $1 billion over two years.
* $500 million over two years in a Strategic Training and Transition Fund to support the particular needs of individuals who do not qualify for EI training, such as the self-employed or those that have been out of work for a prolonged period of time.
* $55 million over two years to help young Canadians find summer jobs.
* $60 million over three years to support older workers and their families through the Targeted Initiative for Older Workers.
* $40 million a year to respond to skilled labour shortages by launching the $2,000 Apprenticeship Completion Grant.
* Providing $50 million over two years to develop a national foreign credential recognition framework in partnership with provinces.
Freezing EI Rates ($4.5 billion)
* $4.5 billion to keep EI rates frozen for 2009 and 2010 so that Canadian employers and employees continue to benefit from one of the lowest payroll tax rates in the world. EI rates will continue to be $1.73 per $100 of insurable earnings, their lowest level since 1982.
Further Developing a Highly Skilled Workforce
* Providing an additional $87.5 million over three years to temporarily expand the Canada Graduate Scholarships program. These funds will support an additional 500 doctoral scholarships and 1,000 master’s scholarships.
* Allocating an additional $3.5 million over two years to the Networks of Centres of Excellence program to offer an additional 600 graduate internships through the Industrial Research and Development Internship program launched in Budget 2007.
ACTION TO STIMULATE HOUSING CONSTRUCTION
Initiatives for Homeowners
* A temporary Home Renovation Tax Credit that will provide up to $1,350 in tax relief and reduce the cost of renovations for an estimated 4.6 million Canadian families. The Home Renovation Tax Credit applies to work performed or goods acquired after January 27, 2009 and before February 1, 2010.
* First-Time Home Buyers’ Tax credit will provide up to $750 in tax relief to first-time home buyers.
* Increase from $20,000 to $25,000 the amount that first-time home buyers can withdraw from their RRSP to purchase a home.
* $300 million over two years to the ecoEnergy Home Retrofit program, which is expected to support an additional 200,000 energy-saving home retrofits.
Affordable and Social Housing
* Providing a one-time federal investment of $1 billion over two years for renovation and energy retrofits for up to 200,000 social housing units on a 50-50 cost shared basis with the provinces.
* Dedicating $400 million over two years for the construction of housing units for low-income seniors.
* $75 million over two years for the construction of housing units for persons with disabilities.
* Supporting housing in the North with an additional $200 million over two years.
* Making available up to $2 billion over two years in direct, low-cost loans to municipalities to finance improvements to housing related infrastructure, such as sewers, water lines, and neighbourhood regeneration projects.
Home Renovation Tax Credit Backgrounder
Home renovations are smart investments in the long term value of a home and also create economic activity by increasing the demand for labour, building materials and other goods. Renovations can also reduce energy consumption and the long-term cost of owning a home.
To provide some $3 billion of much-needed fiscal stimulus and encourage investments in Canada’s housing stock, Budget 2009 proposes to implement a temporary Home Renovation Tax Credit (HRTC).
The Home Renovation Tax Credit (HRTC) will provide a temporary 15% income tax credit on eligible home renovation expenditures for work performed, or goods acquired, after January 27, 2009 and before February 1, 2010. The credit may be claimed on eligible expenditures exceeding $1,000, but no more than $10,000.
Who can claim the credit?
The HRTC will be family-based, generally meaning an individual, and his/her spouse or common-law partner. Family members will also be able to share the credit amongst themselves. About 4.6 million families in Canada are expected to benefit from the credit.
What expenditures are eligible?
The HRTC can be claimed for renovations and alterations to a dwelling or the land on which it sits that are enduring in nature. Costs associated with such projects will be eligible for the credit, including permits, professional services, equipment rentals and incidental expenses. Routine repairs and maintenance normally performed annually or on a more frequent basis will not qualify for the credit. Individuals will need to keep receipts for expenditures and may claim the HRTC when filing their income tax returns for 2009.
The HRTC will complement support provided by the Government to Canadians to undertake energy-saving improvements to their homes. EcoEnergy retrofit grants will not reduce the value of claims made under the HRTC. Eligible renovation expenditures claimed under the Medical Expense Tax Credit may also be claimed.
The HRTC will apply to eligible home renovation expenditures for work performed, or goods acquired, after January 27, 2009 and before February 1, 2010, pursuant to agreements entered into after January 27, 2009. The temporary nature of the credit will provide an immediate incentive for Canadians to undertake new renovations or accelerate planned projects.
ACTION ON IMPROVING ACCESS TO FINANCING
* Committing an addition $50B to Insured Mortgage Purchase Program. The new total size of the program is $125B.
* $13B in additional financing by increasing the flexibility and capacities of the financial Crown corporations (Canada Mortgage and Housing Corporation, Export Development Corporation, and the Business Development Bank of Canada).
* Increasing the maximum eligible loan amount a small business can access under the Canada Small Business Financing Program which could increase lending by $300M per year.
* Creating the Canadian Secured Credit Facility, with an allocation of up to $12B, to support financing of vehicles and equipment for consumers and businesses.
* To help Canadian lenders remain competitive on the global scale, we are extending the deadline for insuring guaranteed instruments under the Canadian Lenders Assurance Facility.
* Establishing a new Canadian Life Insurers Assurance Facility to generate wholesale term borrowings for life insurers, modelled on the Canadian Lenders Assurance Facility.
The Extraordinary Financing Framework (EFF)
* Providing up to $200B in existing and new measures to support the extension of financing from Canada’s financial institutions to Canadians and Canadian businesses during the current extraordinary period.
* The Government will form the Advisory Committee on Financing to help manage the EFF.
* This committee will include users and suppliers of financing, along with other experts.
* While the Government will undertake additional borrowing, the EFF is expected to generate an overall positive return. It is not expected to lead to an increase in federal debt.
ACTION TO SUPPORT SMALL BUSINESS
* Increasing the amount of small business income eligible for the reduced federal tax rate of 11 per cent to $500,000 from the current limit of $400,000 as of January 1, 2009.
* Increasing access to financing for small businesses through proposed amendments to the Canada Small Business Financing Program and the Business Development Bank of Canada.
* Providing $30 million over two years for the Canada Business Network and $10 million in 2009-10 to the Canadian Youth Business Foundation.
* Allocating $200 million over two years to the National Research Council’s Industrial Research Assistance Program to enable it to temporarily expand its initiatives for small and medium-sized businesses.
ACTION ON A MORE SUSTAINABLE ENVIRONMENT
Transformation to a Green Energy Economy
To maintain a strong economy Canada requires a healthy environment that provides sustainable resources and supports a high and enduring quality of life. The Government is committed to ensuring that Canada's enviable and pristine environment is protected and strengthened for current and future generations.
Canada has committed to a 20 per cent reduction of greenhouse gases by 2020. Clean-energy technologies have the potential to make a significant contribution by reducing emissions from the production and use of energy, and creating new opportunities as Canada transitions toward a greener global economy. This is particularly the case for technologies that capture carbon dioxide, one of the most important greenhouse gases, at the point of production in industrial facilities and safely store it underground.
Since 2006, the Government has provided $375 million to support the development of carbon capture and storage technologies, including $250 million in Budget 2008 for a full-scale commercial demonstration of carbon capture and storage in the coal-fired electricity sector in Saskatchewan, research on the potential for carbon storage in Nova Scotia, and economic and technological issues. An additional $125 million is available for carbon capture and storage projects under the ecoENERGY Technology Initiative of Natural Resources Canada.
To further support Canada's leadership in clean energy, Budget 2009 provides:
* Canada’s Action Plan invests in a more sustainable environment to help create the green technologies of tomorrow that will combat global warming and clean our air.
* $1 billion over five years to a Clean Energy Fund for pilot projects and research, including carbon capture storage. This support is expected to generate a total investment in clean technologies of at least $2.5 billion over the next five years.
* Improving the government’s annual reporting on key environmental indicators such as clean air, clean water and greenhouse gas emissions with $10 million.
* Strengthening Canada’s nuclear advantage with $351 million to Atomic Energy of Canada Limited for its operations and to maintain safe and reliable operations at the Chalk River Laboratories.
Capital Cost Allowance for Carbon Capture and Storage
In light of the potential importance of carbon capture and storage as a means of reducing greenhouse gas emissions from large industrial facilities, the Government will also consult with stakeholders to identify specific assets used in carbon capture and storage with a view to providing accelerated capital cost allowance (CCA) in respect of such investments. Accelerated CCA is used to actively promote investment in certain clean-energy generation technologies. Advancing the timing of capital cost deductions for tax purposes defers taxation and improves the financial return from investment in particular assets.
Informing Canadians About the Environment
The Canadian Environmental Sustainability Indicators initiative produces a coherent set of indicators on water quality, air quality, and greenhouse gas emissions over time. Budget 2009 will provide $10 million in 2009–10 to sustain the Government's annual reporting on the environmental indicators.
