Wild Rose MP Blake Richards said there is something for everyone in this year’s federal budget, delivered March 21 by Finance Minister Jim Flaherty.
Canada’s Economic Action Plan 2013 includes a number of measures designated to strengthen Canada’s economy and promises a balanced budget by 2015.
“It is really what people in our constituency were looking to see,” said Richards, adding public consultation was a big part of this year’s budget preparations.
“People wanted to see the federal budget balanced, but wanted to see the economy grow as we are doing it.”
This year’s $18.7-billion budget includes the Community Improvement Fund, consisting of the Gas Tax Fund and the incremental Goods and Services Tax Rebate for Municipalities, that will provide more than $32 billion for projects such as roads, public transit and recreational facilities, and other community infrastructure.
Gas Tax Fund payments will be indexed at two per cent per year starting in 2014–15, with increases to be applied in $100-million increments.
“This allows the municipal councils to make use of those funds based on their priorities for the community,” said Richards.
He said the increased infrastructure funding announcement is good news for area municipalities.
“(During consultation), people said ‘let’s see the federal budget balanced’ and we made a commitment to do that by 2015,” said Richards. “They also said … we need to ensure the private sector will continue to grow.”
According to Richards, this budget includes measures to help ensure people are trained for in-demand jobs. It also includes an increase in lifetime capital gains allowed from $750,000 to $800,000.
“That will help a lot of farmers and small businesses,” said Richards, adding lifetime capital gains are also being tied to inflation.
The Canada Job Grant included in the budget could provide $15,000 or more per person to ensure Canadians are getting the skills employers are seeking. Up to $5,000 will be provided by the federal government, and that amount will be matched by the Province and the employer.
Job seekers will train at community colleges, career colleges, polytechnics or union training halls.
The budget also includes tax credits and other incentives for apprenticeships and a hiring credit for small businesses that create jobs.
“These (programs) will encourage job growth and make sure we are helping to fill some of those labour needs we have,” said Richards.
It also includes the elimination of import tax tariffs on items such as baby clothing, sports gear and exercise equipment and new tax reliefs for those who give to charity, adopt a child or rely on homecare services.
“These are things that will help Canadian families meet the needs of their families,” said Richards.
The budget promises $70 million for roads, bridges, subways, rail lines and ports and major investments in research and technology. Government spending this year is projected to be more than $11 billion lower than planned. It also lowers government spending by $1.7 billion in ongoing savings.
