Canadian Social Research Links

Canada's Economic Action Plan

Sites de recherche sociale au Canada

Plan d'action économique du Canada


Updated April 22, 2015
Page révisée le 22 avril 2015



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Canada's Economic Action Plan

ActionPlan.gc.ca - a sub-site of Finance Canada

[ Version française du site:
Plan d'action économique du Canada
]

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The content on this page is in reverse chronological order, with the most recent new content at the top.

Economic Action 2015
(a.k.a. The Federal Budget)
April 21, 2015

Budget 2015 - home page
http://www.budget.gc.ca/2015/home-accueil-eng.html
- includes links to all budget documents, some of which appear below...

Budget Speech
http://www.budget.gc.ca/2015/docs/speech-discours/2015-04-21-eng.html

Budget 2015 - Table of Contents
HTML version :
http://www.budget.gc.ca/2015/docs/plan/toc-tdm-eng.html
PDF version (4.3MB, 528 pages) : http://www.budget.gc.ca/2015/docs/plan/budget2015-eng.pdf

Plan Budget 2015Minister Oliver Tables Balanced-Budget, Low-Tax Plan for Jobs, Growth and Security
http://www.fin.gc.ca/n15/15-044-eng.asp
News release, includes extensive highlights and links to other budget docs

Economic Action Plan 2014

Economic Action Plan 2014
http://www.actionplan.gc.ca/en/blog/economic-action-plan-2014

Minister of Finance Confirms Return to Balanced Budgets in 2015
http://www.fin.gc.ca/n14/14-019-eng.asp
News Release
February 11, 2014
Minister of Finance Jim Flaherty today tabled Economic Action Plan 2014, which confirms that the Government is on track to return to balanced budgets in 2015, with new measures that will create jobs and opportunities in an uncertain global economy.
- includes budget highlights (Supporting Jobs and Growth --- Supporting Families and Communities --- Balancing the Budget)

NOTE : For a more complete collection of links to the 2014 federal budget, including media coverage and analysis/critique,
see http://www.canadiansocialresearch.net/budgets_2014.htm#federal

Economic Action Plan 2013 analysis and commentary - selected sources

Economic Action Plan 2013
http://www.budget.gc.ca/2013/home-accueil-eng.html

Minister Aglukkaq Tables Notice of Ways and Means Motion to Implement Remaining Tax Measures From Economic Action Plan 2013 and Other Previously Announced Tax Measures
http://www.fin.gc.ca/n13/13-136-eng.asp
News Release
October 18, 2013
The Notice of Ways and Means Motion includes:
* Supporting Jobs and Growth
* Improving Tax Fairness

Notice of Ways and Means Motion to amend the Income Tax Act,
the Excise Tax Act and Other Legislation and Explanatory Notes

http://www.fin.gc.ca/drleg-apl/nwmm-amvm-1013-eng.asp

-----------------------------------------------------------------------------

Canada positioned to create more jobs and growth
with Royal Assent of the Economic Action Plan 2013 Act

http://www.fin.gc.ca/n13/13-090-eng.asp
June 26, 2013
The Honourable Jim Flaherty, Minister of Finance, welcomed Royal Assent of Bill C-60, the Economic Action Plan 2013 Act, No. 1, which brings into law key measures from Economic Action Plan 2013
(...)
Key elements of the Economic Action Plan 2013 Act, No. 1 that will position Canada for long-term success include:
--- Extending for two years the temporary accelerated capital cost allowance for new investments in machinery and equipment by Canadian manufacturers.
--- Reforming the Temporary Foreign Worker Program to ensure that Canadians are given the first opportunity at available jobs.
--- Promoting adoption by enhancing the Adoption Expense Tax Credit to better recognize the costs of adopting a child.
--- Introducing a new, temporary First-Time Donor’s Super Credit for first-time claimants of the Charitable Donations Tax Credit to encourage all young Canadians to donate to charity.
--- Improving the fairness of the tax system.

Related Documents:

Economic Action Plan 2013 (Budget 2013 Web site):
http://www.budget.gc.ca/2013/home-accueil-eng.html

Economic Action Plan 2013 Act, No. 1 (LEGISinfo)
http://parl.gc.ca/LegisInfo/BillDetails.aspx?Language=E&Mode=1&billId=6108103
- incl. links to the text of Bill C-60 and links related to the legislative process from first draft to Royal Assent on June 26, 2013.

-----------------------------------------------------------------------------

* A Final Report to Canadians : The Stimulus Phase of Canada’s Economic Action Plan
March 2012

HTML version : http://www.actionplan.gc.ca/en/page/stimulus-phase-canada-s-economic-action-plan-final-report-canadians
PDF version (4.7MB, 498 pages) : http://www.budget.gc.ca/2012/plan/pdf/Plan2012-eng.pdf
NOTE : I think someone messed up the links immediately above. The HTML version is actually an excerpt (Annex 2) of the PDF report, which is almost 500 pages in length.

* A Seventh Report to Canadians - January 2011
http://www.fin.gc.ca/pub/report-rapport/2011-7/index-eng.asp

* A Sixth Report to Canadians - September 2010
http://www.fin.gc.ca/pub/report-rapport/2010-09-27/index-eng.asp

* A Fifth Report to Canadians - March 2010
http://www.budget.gc.ca/2010/plan/chap5-eng.html

* A Fourth Report to Canadians - December 2009
http://www.fin.gc.ca/pub/report-rapport/2009-4/index-eng.asp

* A Third Report to Canadians - September 2009
http://www.fin.gc.ca/pub/report-rapport/2009-3/index-eng.asp

* A Second Report to Canadians - June 2009
http://www.fin.gc.ca/pub/report-rapport/2009-2/index-eng.asp

* A First Report to Canadians - March 2009
http://www.fin.gc.ca/pub/report-rapport/2009-1/index-eng.asp

Budget 2012 analysis and commentary - selected sources

Economic Action Plan 2012 : Federal Budget
http://www.budget.gc.ca/2012/home-accueil-eng.html
March 29, 2012
- main budget page, includes links to all budget documents, some of which appear below...

Budget Plan
http://www.budget.gc.ca/2012/plan/toc-tdm-eng.html

Budget in Brief
http://www.budget.gc.ca/2012/rd-dc/brief-bref-eng.html

News Release
The Government of Canada Delivers Economic Action Plan 2012—A Plan for Jobs, Growth and Long-Term Prosperity

News Release
March 29, 2012
The Honourable Jim Flaherty, Minister of Finance, today tabled Economic Action Plan 2012, a comprehensive agenda to bolster Canada’s long-term economic strengths and promote job growth. (...) Economic Action Plan 2012 takes important steps to address the challenges and help take advantage of the opportunities of the global economy, while ensuring sustainable social programs and sound public finances for future generations.

Budget Speech
http://www.budget.gc.ca/2012/rd-dc/speech-discours-eng.html

Backgrounders
http://www.budget.gc.ca/2012/admin/news-media-eng.html
[Click the link above to access any of the first three items below;
I've provided only the link to the last item, on social programs.]
* Supporting Entrepreneurs, Innovators and World-Class Research
* Supporting Jobs and Opportunity
* Responsible Resource Development
* Sustainable Social Programs and a Secure Retirement
http://www.budget.gc.ca/2012/rd-dc/bdc4-eng.html
In order to ensure the sustainability of our social programs and fiscal position for generations to come, steps are required to prepare today for the demographic pressures that the Canadian economy will face over the longer term. Canadians are living longer and healthier lives.
Economic Action Plan 2012 will:
* Gradually increase the age of eligibility for Old Age Security (OAS) and Guaranteed Income Supplement (GIS) benefits from 65 to 67. This change will start in April 2023, with full implementation by January 2029, and will not affect anyone who is 54 years of age or older as of March 31, 2012.
* Increase the ages at which the Allowance and the Allowance for the Survivor are provided from 60-64 today, to 62-66 starting in April 2023. This change will not affect anyone who is 49 years of age or older as of March 31, 2012.
* Allow for the voluntary deferral of the OAS pension, for up to five years, starting on July 1, 2013. This will give Canadians the option to defer take-up of their OAS pension to a later time and receive a higher, actuarially adjusted pension.
* Put in place a proactive enrolment regime for OAS and GIS to reduce the burden on seniors of completing application processes and reduce the Government’s administrative costs. Proactive enrolment will be implemented in a phased-in approach from 2013 to 2015.

NOTE: A tip of the hat to Richard Shillington for the successful completion of his ten-plus year campaign to help convince the federal government to "proactively" increase the take-up rate for the Guaranteed Income Supplement [ http://publications.gc.ca/collections/collection_2011/fin/F2-208-2011-eng.pdf ]. Proactive enrolment for OAS and GIS will mean a better quality of life for the 160,000 seniors who aren't receiving the OAS benefit they’re entitled to receive and the 150,000 seniors who aren't receiving the Guaranteed Income Supplement benefit even though they qualify.
Kudos, Richard! (And to the Government of Canada for getting it right, finally!)

Related link:

Ensuring a sustainable Old Age Security program (OAS): What it means for you
http://www.budget.gc.ca/2012/themes/theme3-eng.html

Previous federal budgets
and economic updates (back to 1995)
http://www.budget.gc.ca/2012/admin/au-an-eng.html#prebud


Budget analysis and critiques

TD Bank Economics
Analysis of the 2012 Federal Budget:

Federal Budget Plan 2012 : Canada's Long Run Economic Action Plan (PDF - 720K, 6 pages)
http://www.td.com/document/PDF/economics/budgets/fed12.pdf
March 29, 2012

Source:
2012 Federal and Provincial Budgets
http://www.td.com/economics/analysis/canada/public-policy-government-finances/gov-finances.jsp
[ TD Economics
http://www.td.com/economics/analysis/economics-index.jsp ]


From the
Canadian Union of Public Employees:

Federal budget 2012: Systemic underfunding for Aboriginal peoples
http://cupe.ca/aboriginal/federal-budget-2012-systemic
May 8, 2012
It’s been six years since the Conservatives scrapped the Kelowna Accord—an important agreement established to begin closing the poverty gap between Aboriginal peoples and Canadians. Since then, the federal government has consistently ignored the disturbing conditions in many First Nation, Métis and Inuit communities, preferring instead to focus on its big oil agenda. The 2012 federal budget continues its record of appalling underfunding for some of the country’s poorest communities, and recent budget cuts have effectively silenced some of the advocacy groups that fight for basic rights for Aboriginal peoples.

- Go to the First Nations Links page:
http://www.canadiansocialresearch.net/1stbkmrk.htm


Federal Budget 2012: Women’s rights suffer significant setbacks under Harper majority
http://cupe.ca/economics/federal-budget-2012-womens-rights
May 8, 2012
The federal government promised that one of the priorities of the federal budget budget would be “supporting families and communities”. Unfortunately, the Harper Conservatives have failed miserably on this front, especially when it comes to the women and girls of Canada. Women continue to face a number of challenges in the labour force. Women rely heavily on public services. They often hold precarious jobs, with less pay than their male counterparts. A lack of affordable, quality child care also places an extra burden on mothers of young children. Senior women are among the poorest in the country.
Includes:
*
OAS and GIS cuts
*
No child care
*
Cuts to services and jobs
*
Tax cuts for rich corporations
This federal budget has done nothing to improve the lives of women and girls. For many, it has made life worse. We need a federal presence to achieve equality for women, not abandon it.

Source:
Canadian Union of Public Employees (CUPE)
http://cupe.ca/


Federal budget 2012: Details show how Canadian PM Stephen Harper changing government
24 Apr 2012 | Canada
http://goo.gl/QZ91Q

Source:
Childcare Resource and Research Unit (CRRU)
http://www.childcarecanada.org
CRRU is a policy and research oriented facility that focuses on early childhood education and child care (ECEC) and family policy in Canada and internationally.


From the
Caledon Institute of Social Policy:

The No-Budge Budget (PDF - 132K, 38 pages)
http://www.caledoninst.org/Publications/PDF/984ENG.pdf
April 2012
By Ken Battle, Sherri Torjman and Michael Mendelson
Abstract (Excerpt):
The Caledon Institute’s analysis of the 2012 Budget argues that a number of its policy announcements are not backed up by solid evidence. Yet evidence – or lack thereof – has not stopped the federal government from taking action in recent years.
The ‘No-Budge Budget’ title for Caledon’s paper is clearly appropriate given the social policy centrepiece of this Budget: the hike in the age of eligibility for Old Age Security from 65 to 67. The Budget tries to soft-pedal the proposed change by emphasizing the gradual and lengthy nature of its implementation and assuring Canadians that the measure will not affect today’s seniors or people currently age 54 or older.
This paper argues there is no need to weaken the strong and effective set of programs that Canada is fortunate to have built over the years – at least not if the policy decisions were guided by the evidence.

Read the complete abstract:
http://www.caledoninst.org/Publications/Detail/?ID=984


Good News for People with Disabilities in the Federal Budget (PDF - 40K, 7 pages)
http://www.caledoninst.org/Publications/PDF/985ENG.pdf
April 2012
By Jack Styan

Abstract (Excerpt):
In this paper, Jack Styan explains the four significant measures announced in Budget 2012 that will make Registered Disability Savings Plans (RDSPs) more accessible and useful for people with disabilities and their families. (...)
Budget 2012 announced that:
* “Qualified family members” may now act as holders of new RDSPs
* A new “Proportional Repayment Rule” will replace the “10-year rule” providing greater access to the funds in RDSPs
* Ottawa will now allow more funds to be withdrawn from RDSPs where government contributions exceed personal contributions
* Budget 2012 permits a tax-free rollover of investment income in a Registered Education Savings Plan to an RDSP in certain circumstances starting in 2013.

Read the complete abstract:
http://www.caledoninst.org/Publications/Detail/?ID=985


Old Age Insecurity? (PDF - 128K, 29 pages)
http://www.caledoninst.org/Publications/PDF/983ENG.pdf
February 2012
By Ken Battle, Sherri Torjman and Michael Mendelson

Abstract (Excerpt):
The controversy over raising the age of entitlement for Old Age Security from 65 to 67 is taking attention away from alternative possible reforms of that vital program, and of Canada’s pension system generally. The allegation that Old Age Security will be unsustainable in future is more a political than a policy judgement, and the substantive evidence does not support it.
(...)
The Caledon report puts forward possible changes for public debate, including:
* A new income benefit to poor seniors aged 65 and 66 so that they do not have to keep working or remain on welfare for two more years.
* An ‘actuarially adjusted’ Old Age Security, where the amount of benefit would vary with the age that beneficiaries choose to begin receiving their payments
* Lowering the clawback on the basic Old Age Security pension, either by reducing the income threshold or raising the reduction rate or both
* Combining Old Age Security, the Guaranteed Income Supplement, the age credit and the pension income credit into a single income-tested program with a progressive design.
*
Scrapping the costly and regressive pension income splitting tax expenditure and using the savings to bolster the Guaranteed Income Supplement.

The focus on Old Age Security is important, but it threatens to deflect attention from the key to pension reform – boosting the Canada and Quebec Pension Plans.

Read the complete abstract:
http://www.caledoninst.org/Publications/Detail/?ID=983

Source:
Caledon Institute of Social Policy
http://www.caledoninst.org/

---

Harper Government Highlights Tax Relief for 2012
http://www.fin.gc.ca/n11/11-149-eng.asp
December 30, 2011
The Harper Government today highlighted the following important tax changes taking effect in 2012:
* The federal general corporate income tax rate is reduced to 15 per cent. (...)
* The Family Caregiver Tax Credit comes into effect; it's a 15-per-cent non-refundable tax credit on an amount of $2,000 providing tax relief for caregivers(...)
* The temporary accelerated capital cost allowance rate for investments in manufacturing or processing machinery and equipment was extended to 2013.
In addition to these changes, as of January 1, 2012, Canadians will have a new $5,000 of room to invest in their Tax-Free Savings Account.
Source:
Finance Canada
http://www.fin.gc.ca/fin-eng.asp

Family Caregiver Tax Credit
http://www.budget.gc.ca/2011/themes/theme3-eng.html
Effective January 1, 2012, the new Family Caregiver Tax Credit, a 15-per-cent non-refundable credit on an amount of $2,000, will provide tax relief for caregivers of infirm dependent relatives, including, for the first time, spouses, common-law partners and minor children.
Source:
2011 Federal Budget
http://www.budget.gc.ca/2011/home-accueil-eng.html

Related links:

Submission to the Standing Senate Committee on National Finance (PDF - 56K, 11 pages)
http://www.caledoninst.org/Publications/PDF/968ENG.pdf
By Sherri Torjman and Ken Battle
December 2011
This paper was submitted to the Standing Senate Committee on National Finance in response to Part 1: Amendments to the Income Tax Act and Related Regulations of Bill C-13 Keeping Canada’s Economy and Jobs Growing Act. The submission focuses on three main measures in the Bill: the Family Caregiver Tax Credit, Children’s Arts Tax Credit and Gas Tax Fund. We were pleased to see recognition of caregiver needs in Bill C-13. But we do not support the design of the new measure, which will deny assistance to lower-income families and provide tax assistance to non-poor families, including the well-off.
Source:
Caledon Institute of Social Policy
http://www.caledoninst.org/

---

Harper’s unlikely social breakthrough
http://www.thestar.com/opinion/editorialopinion/article/1102957
By Carol Goar
December 15, 2011
The pickings have been slim this year for Canadians looking to their government for help, support or relief. Prime Minister Stephen Harper’s watchwords are restraint, austerity and cutbacks. Most premiers and mayors have followed his lead, leaving nowhere for the unemployed, poor, hungry and hopeless to turn. But, against this dismal backdrop, one social innovation did make it onto the national agenda. Approximately half a million caregivers — people who voluntarily look after infirm spouses, frail, elderly parents and children with serious health problems — will soon get Canada’s first Family Caregiver Tax Credit.It is extremely modest: less than $1 a day. It is regressive; high-income caregivers get maximum credit, low-income caregivers qualify for little or nothing. And it is selective; 82 per cent of the 2.7 million Canadians who sacrifice their income, career prospects and sometimes their health to care for loved ones, aren’t eligible. Still, it’s the first acknowledgement by the federal government that caregivers play a vital role in providing low-cost, round-the-clock health care.
Source:
Toronto Star
http://www.thestar.com/

---

- Go to the 2011 Canadian Government Budgets Links page:
http://www.canadiansocialresearch.net/budgets_2011.htm

Budget 2011 analysis and commentary - selected sources

Related reports and analysis:
(Links below are in reverse chronological order, starting with the June 6 [2011] federal budget.)

From
Finance Canada
:

Government of Canada reintroduces the next phase
of Canada's Economic Action Plan --- a low-tax plan for jobs and growth

June 6, 2011
News Release
The Honourable Jim Flaherty, Minister of Finance, today reintroduced Budget 2011, the Next Phase of Canada’s Economic Action Plan—A Low-Tax Plan for Jobs and Growth.“Implementing the Next Phase of Canada’s Economic Action Plan will preserve Canada’s advantage in the global economy; strengthen the financial security of Canadian workers, seniors and families; and provide the stability necessary to secure our recovery in an uncertain world,” said Minister Flaherty. On March 22, 2011, the Government tabled Budget 2011, the Next Phase of Canada’s Economic Action Plan—A Low-Tax Plan for Jobs and Growth, in the House of Commons. However, that budget was not adopted prior to the dissolution of Parliament on March 26, 2011.
- includes budget 2011 highlights

Budget 2011
The Next Phase of Canada’s Economic Action Plan—A Low-Tax Plan for Jobs and Growth

June 6, 2011
Main budget page, includes links to:
* Budget Plan
All updates to the Budget 2011 text are highlighted in blue.
Updates to the tables and charts are indicated in the notes to each table and chart.
* Budget in Brief
* Budget Speech

Previous federal budgets - back to 1995

---

Budget analysis and coverage:

Flaherty sticks to deficit pledge, but adds no details
June 6, 2011
Finance Minister Jim Flaherty warned that government programs will be cut in order to balance the books by 2014-2015, as he tabled a revised budget Monday.
Source:
CBC News

---

Canadian Tax Alert, Federal Budget Highlights
June 6, 2011
Highlights:
* Measures concerning businesses
* Measures concerning individuals
* Custom tariff measures
* Other measures
Source:
Deloitte

---

Highlights of 2011 federal budget
June 6, 2011
detailed list of highlights
Source:
Dose.ca

---

Budget 2011: Don’t look behind the curtain
June 6, 2011
By David Macdonald
Definitely nothing new to see here. The boutique tax cuts are still there, so are the small programs from the failed March 22nd budget. The government was even good enough to put on track changes to prove beyond a shadow of a doubt that this is the same budget and little has changed. The only real change is the elimination of 1/3rd of the public service…wooow wait a minute, that’s a huge change!!!

The proposed cuts to the public service worth $11 billion over 4 years starting next year are not just musings anymore, as they were in the March 22nd budget, they are now part of the fiscal framework. They will be implemented starting next year.
Source:
Behind the Numbers
- A blog by the
Canadian Centre for Policy Alternatives

---

From the
Progressive Economics Forum:

The $0.3 Billion Question
By Jim Stanford
June 6, 2011
Machiavelli has nothing on these guys. (...) The primary debate should not be about what gets cut, but why we’re cutting in the first place. It sure isn’t about converting a $0.3 billion deficit into a balanced budget.

Federal Budget Refried
By Toby Sanger
June 6, 2011
Was it worth the wait? Hardly. Today’s federal budget is about as appetizing as two month-old pizza warmed up in the microwave.

---

From
Treasury Board of Canada Secretariat:

Treasury Board President Clement Lays
Groundwork for Responsible Government Spending

June 3, 2011
Ottawa – The Honourable Tony Clement tabled his first document as President of the Treasury Board today, laying the foundation for responsible government spending with the 2011–12 Main Estimates. (...) The 2011–12 Main Estimates total $250.8 billion in expenditures for transfer payments and operating and capital costs, as well as public debt charges. The Main Estimates provide a listing of the resources required by individual departments and agencies for the upcoming fiscal year.

Backgrounder - the big picture

---

Federal budget set to unleash significant program spending cuts: CCPA
News Release
June 1, 2011
OTTAWA—Monday’s federal budget is expected to unleash one of the biggest assaults on the public sector in Canada’s history, says a new Alternative Federal Budget (AFB) report by the Canadian Centre for Policy Alternatives (CCPA).The report gives Canadians a sense of what to expect from the Harper government’s first majority budget, telegraphing a hard shift to the right.

The AFB report:

Budget 2011 Redux
What's New in Version 2
(PDF - 223K, 6 pages)
June 1, 2011
(...) Canadians can expect this budget will incorporate the Conservatives’ campaign commitments to high priced political promises such as an HST deal with Quebec and extend the growth in federal transfers to the provinces and territories for health care. It will carry on with major prison builds, and continue the most extravagant growth in investment on military hardware in Canadian post-war history. It will also followthrough with cuts to corporate income taxes, an issue that unleashed prolonged and vigorous debate about how best to spur job-creation and maintain badly needed public revenues.

Source:
Alternate Federal Budget Project
[ Canadian Centre for Policy Alternatives (CCPA) ]


Budget 2010 analysis and commentary - selected sources

Economic Forecast Shows Federal Government Is on the Right Track
October 12, 2010
The Honourable Jim Flaherty, Minister of Finance, today released an update of the Government's economic and fiscal projections. The update clearly demonstrates that Canada remains on track to return to a balanced budget over the medium term. (...) Canada's Economic Action Plan has underpinned a solid and enviable economic recovery, and Canada has recouped virtually all of the output lost during the recession. As a result of this solid economic performance, nearly 423,000 jobs have been created in Canada since July 2009.

Related documents:

* Update of Economic and Fiscal Projections
* Speech by the Honourable Jim Flaherty, Minister of Finance to the Mississauga Chinese Business Association
* Fiscal Reference Tables October 2010
* Annual Financial Report of the Government of Canada Fiscal Year 2009–2010

Source:
Department of Finance Canada

---

Minister of Finance Introduces the Sustaining Canada’s Economic Recovery Act
News Release
September 30, 2010
The Honourable Jim Flaherty, Minister of Finance, today continued the Government of Canada’s focus on the economy by introducing the Sustaining Canada’s Economic Recovery Act in the House of Commons. The Act, which includes measures from Budget 2010, represents a key component of Canada’s Economic Action Plan. (...)
The Act includes measures to:
Help Canadian Families Get Ahead
* Indexing the Working Income Tax Benefit
* Allowing Registered Retirement Savings Plan proceeds to be transferred to a Registered Disability Savings Plan on a tax-deferred basis
* Allowing a 10-year carry forward for Registered Disability Savings Plan grants and bonds
* Implementing Employee Life and Health Trusts
* Further strengthening federally regulated pension plans
Cut Red Tape
Close Down Tax Loopholes
Protect Consumers
Promote Clean Energy
More details on these and other measures from Budget 2010 are available at www.budget.gc.ca

Source:
Finance Canada

---------------------------

Government of Canada Moves Forward
With Tax Relief and Benefits for Canadians

News Release
September 28, 2010
The Honourable Jim Flaherty, Minister of Finance, today tabled in the House of Commons a Notice of Ways and Means Motion to implement key tax relief measures from Budget 2010. (...)
The Notice of Ways and Means Motion includes tax measures to:
* Index the Working Income Tax Benefit.
* Provide for the sharing of the Canada Child Tax Benefit and the Universal Child Care Benefit in cases of shared custody.
* Allow Registered Retirement Savings Plan proceeds to be transferred to a Registered Disability Savings Plan on a tax-deferred basis.
* Address aggressive tax planning techniques related to Tax-Free Savings Accounts.
* Amend labour-sponsored venture capital corporation rules relating to Tax-Free Savings Accounts.
* more...

More details on these and other measures can be found in the attached Notice of Ways and Means Motion and detailed explanatory notes, as well as the March 2010 federal budget

Related Documents:

* Notice of Ways and Means Motion to implement certain provisions
of the budget tabled in Parliament on March 4, 2010 and other measures

* Explanatory Notes Relating to the Income Tax Act, the Air Travellers Security Charge Act,
the Excise Act, 2001, the Excise Tax Act and Related Acts and Regulations
(PDF - 394K, 124 pages)


March 11, 2009
International Monetary Fund Supports Stimulus Measures in Canada's Economic Action Plan
The Honourable Jim Flaherty, Minister of Finance, today welcomed an International Monetary Fund (IMF) statement of support for the fiscal stimulus in Canada's Economic Action Plan, which it called "large, timely and well-targeted." Noting the stimulus package is well above the Fund's benchmark of 2 per cent of gross domestic product (GDP), the IMF statement said the immediate focus should be to implement the budget to mobilize spending.
Source:
Finance Canada

IMF Link:

Transcript of a Conference Call on Canada’s 2009 Article IV Consultation
Washington, D.C., March 11, 2009
Source:
International Monetary Fund

Budget 2009 analysis and commentary - selected sources

Bad-times budget delivers billions in tax cuts, spending
Flaherty forecasts annual deficits through to 2013, starting at $33.7B

January 27, 2009
NOTE: scroll down the page for dozens of links to budget analysis
under "IN DEPTH: Federal budget 2009" (right-hand margin of the page)

Source:
CBC

---------

Federal Budget 2009 Coverage
January 27, 2009
After months of speculation, Finance Minister Jim Flaherty tabled a federal budget that includes $40 billion
in economic stimulus over the next two years in the form of infrastructure spending and income tax cuts.

Source:
CTV

---------

Federal Budget 2009 : Betting on a recovery, with little room for bad news
January 27, 2009
Success of the Conservative stimulus plan may be a reasonable hope, but one fraught with risks
Source:
Globe and Mail
Also from the G&M:

Need and stimulus in harmony
January 20, 2009
Putting money in the hands of low- and moderate-income Canadians as a way to stimulate spending is an idea with remarkably wide consensus. The big banks in Toronto believe in it. Economists in Western Canada believe in it. The poor apparently don't object, either. In the current situation, it makes more sense than broad-based middle-class tax cuts. Money spent on stimulus needs to stimulate. (Middle-class tax cuts wouldn't.) It should also improve Canada's long-term productivity, where possible (permanent tax cuts would), and it should not saddle taxpayers with a permanent budget deficit (the tax cuts might). And there's an onus on government to protect those who will be hardest hit in bad times.

---------

Tax cuts mean $5.9B loss in revenue
Tories say they want people to spend; ignore warnings not to chop across the board
January 28, 2009
By Tonda MacCharles
OTTAWA–The Conservative government has proposed widespread tax relief for small businesses, homeowners, seniors, and low- and middle-income Canadians. The budget calls for tax measures that will leave more money in more people's pockets, including the sprawling middle class, whose support the Conservatives covet. The moves will take an additional 265,000 Canadians off the tax rolls altogether, largely through changes to the basic personal income tax exemption and to the seniors' Age Credit. But the tax changes will come at a cost to the federal treasury.
Source:
The Toronto Star

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Tax cuts, not spending, needed to stimulate economy: think-tank [DEAD LINK]
By Eric Beauchesne
January 12, 2009
OTTAWA - The federal government should cut spending but permanently decrease personal income and business taxes in its Jan. 27 budget to stimulate the economy, the Fraser Institute advised Monday. “Increasing government spending, whether it’s on bailouts for inefficient industries or increased unemployment benefits, will lead to a deficit that will saddle Canadians with higher taxes in the future,” said Niels Veldhuis, senior economist at the Vancouver-based think-tank.
(...)
The advice, however, runs counter to that from left-leaning groups, which have called for increased spending - especially on the unemployed and low-income workers to cushion them against the impact of the recession and stimulate the economy. It’s also different from most mainstream economists and business groups, which have called for, and what Finance Minister Jim Flaherty has indicated will be in the budget, which is a combination of increased spending and lower taxes.
Source:
Vancouver Sun

Related links:

Economy best served by reducing government spending and permanently cutting taxes
News Release
January 12, 2009
Source:
The Fraser Institute

--------

2009 Budget Analysis - various sources:
* Wellesley Institute * Canadian Centre for Policy Alternatives* Canadian Union of Public Employees * Canadian Labour Congress - Campaign 2000 - Citizens for Public Justice

From the Wellesley Institute:

Fed budget 2009: Billions in new housing spending, but not for those who need it the most
January 27, 2009
By Michael Shapcott
This backgrounder provides a first glimpse at housing in federal budget 2009. Additional housing analysis, and analysis of other key issues and concerns, will be released in the coming days by the Wellesley Institute.
In a nutshell:
* Billions in new housing dollars, but who really benefits?
* Who's left out
* The driveways and decks tax credit
* Less help for those that need it the most
* Most who need housing help won't be able to get it
* Bright Northern Lights
* No new help for people who are homeless
* Re-profiling the dollars
* Housing investments : good for people, communities, economy
* More analysis to come...

$2.075b for housing in Tuesday's federal budget???
January 25, 2009
By Michael Shapcott
The federal government is busily leaking all sorts of details about Tuesday’s federal budget – a sharp departure from the usual secrecy that surrounds spending plans – and the latest “leak” from federal housing minister Diane Finley in the Sunday Toronto Star sets out $2.075 billion for housing initiatives. If the spending plans are confirmed in the budget (and it’s hard to imagine why Minister Finley would be so specific in her disclosures if she wasn’t in the know), it will mean (quoting the language in the Star):
• $1 billion to “renovate existing social housing”, including energy retrofitting;
• $600 million for on-reserve Aboriginal housing;
• $400 million for “seniors’ housing”;
• $75 million for “housing for people with disabilities”.
Source:
Wellesley Institute

Related link:

Social housing to get boost
Poor, seniors and aboriginals expected to be among
the beneficiaries of more than $2 billion out of federal government's stimulus package
January 25, 2009
By Bruce Campion-Smith
OTTAWA–The federal government is poised to pump more than $2 billion into social housing nationwide – a sweeping investment aimed at helping the poor, aboriginals and seniors, the Star has learned. The spending is expected to be part of the aggressive stimulus package unveiled in Tuesday's federal budget and could provide a boost for tradespeople hit by the slowdown in the new housing market.
Source:
The Toronto Star

- Go to the Homelessness and Housing Links page: http://www.canadiansocialresearch.net/homeless.htm

-------------------

From the Canadian Centre for Policy Alternatives:

Federal budget leaves unemployed
January 27, 2009
OTTAWA -- Today’s federal budget leaves hundreds of thousands of vulnerable Canadians hanging on a very short rope and won’t provide the immediate stimulus our economy needs, says the Canadian Centre for Policy Alternatives (CCPA).

---

Why Budget 2009 Leaves Canadians in the Cold
January 28, 2009
For Stephen Harper, the only thing that matters about the 2009 budget is that it meets the political imperatives he imposed on himself with his disastrous December fudgit-budget. On that front, he and we are in the hands of Liberal leader Michael Ignatieff.
But for Canadians, the only thing that really matters is how effective the budget will be as a response to the biggest economic crisis to hit this country in more than 75 years.

---

Straight Goods interview with
CCPA’s senior economist Armine Yalnizyan on the budget
(YouTube video)
January 27, 2009
[ Straight Goods ]

---

Five tests for Canada’s next federal budget
Press Release
January 23, 2009
OTTAWA— The January 27 federal budget will be one of the most important in Canada’s history and should meet five key tests, says the Canadian Centre for Policy Alternatives (CCPA). “What’s in this budget matters, more than ever,” says CCPA Senior Economist Marc Lee. “Canadians expect a budget that will stave off the worst of the current recession, keep and create jobs, and lay the groundwork for a fairer, greener, and more sustainable economy.”

---

More stimulus required in Tuesday’s budget
Editorial
January 23, 2009
News on Thursday of the government’s stimulus plans should come as a disappointment to Canadians. The Conservative’s continued underestimation of the economic crisis will force Canadians to suffer higher job losses and a longer recession than necessary.


Alternative Federal Budget 2009: Beyond the Crisis
(PDF - 1.5MB, 151 pages)

Budget in Brief (PDF - 210K, 12 pages)

Version française:
Budget en bref - Alternative budgétaire pour le gouvernement fédéral 2009 (PDF - 236Ko., 13 pages)

Source:
Alternative Federal Budget
[ Canadian Centre for Policy Alternatives
]

An economic stimulus plan for Canada’s economy and its people
Editorial
January 13, 2009
By David Macdonald & Armine Yalnizyan
In the weeks leading up to the January 27 federal budget, Jim Flaherty is hinting that he will turn, once more, to the traditional Conservative fix for everything: tax cuts. Not only is this response yesterday’s news, it is the wrong answer for today’s problems. Tax cuts are not the kind of economic stimulus that would re-ignite consumer confidence, and there’s proof of that south of the border.

Related link:

Alternative Budget stimulus package injects
2% of GDP into economy and creates 407,000 jobs

Press Release
January 6, 2009
OTTAWA—Today the Canadian Centre for Policy Alternatives (CCPA) released the Alternative Federal Budget (AFB) fiscal stimulus plan, a one-year package that would create 407,000 jobs, boost the economy by 3%, and help protect Canadians from the worst of a recession.

Complete report:

Leadership for Tough Times:
Alternative Federal Budget Fiscal Stimulus Plan
(PDF - 330K, 28 pages)
January 2009

Source:
Alternative Federal Budget - incl. links to over two dozen earlier alternative budget papers
[ Canadian Centre for Policy Alternatives

The Canadian Centre for Policy Alternatives is an independent, non-partisan research institute concerned with issues of social and economic justice. Founded in 1980, the CCPA is one of Canada’s leading progressive voices in public policy debates.]

---------

From the Canadian Union of Public Employees (CUPE):

Harper “stimulus” budget falls far short
January 29, 2009
Faced with the prospect of losing their grip on power, the Harper government has made a big show of taking action to address the economic and financial crisis, but it still falls far short of what is needed to revive the economy, create jobs and protect the vulnerable.

CUPE's Budget Analysis
- includes links to separate analyses (posted between January 28 and January 30) for the following:
* Federal Budget 2009 and Women
* Federal Budget 2009 and Water
* Federal Budget 2009 and Early Learning and Child Care
* Federal Budget 2009 and Municipal Infrastructure
* Federal Budget 2009 and Privatization
* Federal Budget 2009 and Health Care
* Federal Budget 2009 and Employment Insurance (EI)
* Federal Budget 2009 and Post-secondary Education
* Federal Budget 2009 and Pensions
* Federal Budget 2009 and the Environment
* Federal Budget 2009 and Aboriginal Issues
* Federal Budget 2009 and Social Services
NOTE: In the right-hand margin of the CUPE Budget Analysis page, you'll also find links to the following related budget items:
* News * Reports * Fact sheets * Research papers * Briefs to government * Video * Audio * Resolutions * Economic Briefs

Federal Budget 2009: Initial Report Card
January 29, 2009
How well did the budget deliver on these three key areas of concern?
1. stimulating the economy,
2. protecting the vulnerable, and
3. saving and creating jobs by rebuilding the economy

Source:
Canadian Union of Public Employees (CUPE)
The Canadian Union of Public Employees (CUPE) is Canada’s largest union. With 570,000 members across Canada, CUPE represents workers in health care, education, municipalities, libraries, universities, social services, public utilities, transportation, emergency services and airlines.

-----------------------

From the Canadian Labour Congress (CLC):

Canadian Labour Congress
Final Budget 2009 Analysis

By Andrew Jackson
January 28, 2009
- includes "What We Wanted" and "What We Got" in the following areas:
* Impact on Jobs and the Economy
*
Investment in Public Infrastructure and Housing
*
The Manufacturing and Wider Jobs Crisis
*
Employment Insurance Benefits
*
Pensions
*
Support for Training and Labour Adjustment
*
Federal-Provincial Transfers and the Future of Public Services
*
Equality and Inclusion
*
Global Issues
NOTE: the CLC Final Budget 2009 Analysis appears on the Relentlessly Progressive Economics Blog, which also includes budget-related posts by other progressive economists (See "Recent Blog Posts" in the right-hand margin of the page for links)

Source:
Canadian Labour Congress
The Canadian Labour Congress is the largest democratic and popular organization in Canada with over three million members. The Canadian Labour Congress brings together Canada's national and international unions, the provincial and territorial federations of labour and 130 district labour councils.

---------

From Campaign 2000:

Family Security in Insecure Times:
Poverty Reduction as Poverty Prevention
Submission to
Federal Conservative Pre-Budget Consultation
January 8, 2009
By Laurel Rothman
National Coordinator, Campaign 2000
"(...) Increased public expenditures are needed to prevent further child and family poverty and to stem an even wider gap between rich and poor as Canada enters a recession. The cost of poverty is high for all Canadians. There is good evidence that as a society we either share the collective responsibility to prevent and reduce child and family poverty, or we face rising costs in health care services, criminal justice and education and reduced output due to high unemployment. The majority of Canadians agree; in a recent study, an overwhelming majority (92%) say that if other nations like the UK and Sweden can reduce poverty, so can Canada. Our choice is clear – we can pay now or pay later. Campaign 2000 believes that paying now to improve life chances and provide more opportunities for independence and success makes good sense."
Source:
Campaign 2000
Campaign 2000 is a cross-Canada public education movement to build Canadian awareness and support for the 1989 all-party House of Commons resolution to end child poverty in Canada by the year 2000.

Related links:

Open Letter to Finance Minister Jim Flaherty
from the (Ontario) 25 in 5 Network for Poverty Reduction
January 13, 2008
Dear Minister Flaherty,
We are writing on behalf of the 25 in 5 Network for Poverty Reduction to urge you to make social investments and poverty reduction top priorities in the upcoming January 27 federal budget. Evidence is mounting that investments in infrastructure, such as affordable housing and early learning and child care, along with strengthening the incomes of vulnerable families and adults, will reduce poverty. At the same time it will create jobs and stimulate demand in local economies across Canada.On the other hand, general income tax and GST cuts have been shown to be ineffective and a weak substitute for social investments when it comes to economic stimulus...
Source:
25 in 5 Network for Poverty Reduction
25-in-5 is a multi-sectoral network endorsed by more than 1500 provincial and Toronto-based organizations and individuals working on eliminating poverty. We have organized ourselves around the call for a Poverty Reduction Plan with a goal to reduce poverty in Ontario by 25% in 5 years and 50% in 10 years.

Support Affordable Housing in the Budget and Stimulus Package
- Action Alert from ACORN

Flaherty must do all he can to throw Canadians a lifeline
...say Armine Yalnizyan and David Macdonald in Toronto Star op-ed (Jan 10).
Instead of the usual tax cuts, he should target tax initiatives to social investments where they'll be most effective

---------------

From Citizens for Public Justice:

Stimulus Package Remains a Lost Opportunity
January 28, 2009
While CPJ applauds Budget 2009 for its effort to address the economic crisis through economic stimulus, it is also a lost opportunity to make greater investments that would promote the dignity and well-being of the poor and marginalized. It also lacks adequate investments in social infrastructure or sustainable development. The budget reflects the government’s unwillingness to promote public justice through measures to protect those who will suffer the most from the economic crisis. CPJ will strengthen the call for the federal government to invest in a poverty reduction strategy and protect the most vulnerable in our society.

---

Poverty Reduction Strategy needed in Budget 2009
December 17, 2008
In a letter to Federal Finance Minister Jim Flaherty (PDF - 207K, 4 pages), CPJ calls on the government to present a "visionary stimulus package" as part of the Federal Budget anticipated for January 27, 2009.

---

Vision to Action: Canada Without Poverty
Submission to the Standing Committee on Finance
(PDF - 329K, 7 pages)
Pre-Budget Consultations
August, 2008

---

Source:
Citizens for Public Justice
We are a faithful response to God’s call for love, justice and stewardship. (...)
Our mission is to promote public justice in Canada by shaping key public policy debates through research and analysis, publishing and public dialogue.


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