Canada's Economic Action Plan |
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Canada's Economic Action Plan
ActionPlan.gc.ca - a sub-site of Finance Canada
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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 Donors 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
Canadas 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 2012A 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 Canadas 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 Governments 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 theyre
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
Its been six years since the Conservatives scrapped the Kelowna
Accordan 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 countrys 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: Womens
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 Institutes 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 Caledons 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 todays 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 Canadas 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 Canadas Economy and Jobs Growing
Act. The submission focuses on three main measures in the Bill: the
Family Caregiver Tax Credit, Childrens 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/
---
Harpers 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 Harpers 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 Canadas
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, arent eligible. Still, its
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 Canadas Economic Action PlanA Low-Tax
Plan for Jobs and Growth.Implementing the Next Phase of Canadas
Economic Action Plan will preserve Canadas 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 Canadas Economic
Action PlanA 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 Canadas Economic Action PlanA 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: Dont 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, thats 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 were cutting in the first place. It
sure isnt 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. Todays 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 201112 Main
Estimates. (...) The 201112 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
OTTAWAMondays federal budget is expected to unleash one of the
biggest assaults on the public sector in Canadas 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 governments 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 20092010
Source:
Department
of Finance Canada
---
Minister
of Finance Introduces the Sustaining Canadas Economic Recovery Act
News Release
September 30, 2010
The Honourable Jim Flaherty, Minister of Finance, today continued the Government
of Canadas focus on the economy by introducing the Sustaining Canadas
Economic Recovery Act in the House of Commons. The Act, which includes measures
from Budget 2010, represents a key component of Canadas 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:
* 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 IMF Link: Transcript
of a Conference Call on Canadas 2009 Article IV Consultation |
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
---------
Source:
CTV
---------
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
OTTAWAThe 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
---------
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 its 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. Its 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
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 Tuesdays
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 its hard to imagine why Minister Finley would be so specific
in her disclosures if she wasnt 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
OTTAWAThe 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 -- Todays federal budget leaves hundreds of thousands of vulnerable
Canadians hanging on a very short rope and wont 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
CCPAs senior economist Armine Yalnizyan on the budget (YouTube
video)
January 27, 2009
[ Straight Goods ]
---
Five
tests for Canadas next federal budget
Press Release
January 23, 2009
OTTAWA The January 27 federal budget will be one of the most important
in Canadas history and should meet five key tests, says the Canadian
Centre for Policy Alternatives (CCPA). Whats 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 Tuesdays budget
Editorial
January 23, 2009
News on Thursday of the governments stimulus plans should come as
a disappointment to Canadians. The Conservatives continued underestimation
of the economic crisis will force Canadians to suffer higher job losses
and a longer recession than necessary.
Budget in Brief (PDF - 210K, 12 pages) Version française: Source: |
An
economic stimulus plan for Canadas 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 yesterdays news,
it is the wrong answer for todays problems. Tax cuts are not the kind
of economic stimulus that would re-ignite consumer confidence, and theres
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
OTTAWAToday 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 Canadas leading progressive voices
in public policy debates.]
---------
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 Canadas 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.
-----------------------
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
---------------
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 governments
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 Gods 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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