Warkentin Applauds Canada’s Economic Action Plan That Benefits the Peace Country

OTTAWA, January 27, 2009 – Today, the Conservative government tabled Budget 2009 - Canada’s Economic Action Plan - a bold multi-year approach to stimulate the economy and protect the country during the current global recession in Budget 2009.

“Canadians recognize we are coping with a global economic downturn. Our plan will ensure we emerge even stronger as the economy recovers,” said Chris Warkentin, M.P. “The targeted and temporary measures will build on Canada’s long-term strengths, while helping address short-term challenges.”

The plan will provide almost $30 billion in support, equivalent to 1.9% of our GDP, to the Canadian economy this year. Alberta and the Peace Country will especially benefit from the plan through:

Action to Build Infrastructure by providing Alberta with its share of $4.5 billion over two years for infrastructure projects such as road, water and sewer system upgrades across the province. It also accelerates payments up to $75 million over two years for additional infrastructure projects.

Action to Reduce Taxes and Freeze EI Rates by providing the people and businesses of Alberta with tax relief of $2.8 billion over the next five years and providing billions to keep EI rates low for 2009-10.

Action to Stimulate Housing Construction by providing billions to build quality social housing, stimulate construction and enhance energy efficiency. The new renovation tax credit will provide up to $1,350 per homeowner, which will benefit Alberta homeowners by up to $338.2 million over two years.

Action to Improve Access to Financing for businesses to obtain the resources they need to invest, grow and create new jobs and give consumers the adequate financing they need.

Action to Help Canadians Hit Hardest by the Economic Downturn including enhancements to Employment Insurance and more funding for skills and training.

Action to Build the Workforce of the Future including the launch of the Apprenticeship Completion Grant.  Eligible apprentices will receive a grant of $2,000 upon completion of their certification.

Action to Support Businesses and Communities during this global recession with extra support for the forestry and agricultural sectors, as well as the regions and communities that depend on them. This includes providing $170 million over two years to expand and diversify the wood trade industry.   In addition, we are improving access to credit for new farmers, supporting intergenerational farm transfers, and modifying eligibility criteria for agricultural co-operatives. We are also investing $50 million to strengthen slaughterhouse capacity over the next three years.

In addition to these measures, Alberta will continue to receive historically high and growing federal transfers in 2009-10 that will total $3.6 billion - an increase of $213 million from last year and a $1.2 billion increase over the former Liberal government. What’s more, Alberta will see growing health ($1.9 billion) and social ($1.2 billion) transfers to help the province pay for vital health care, educational and social services families depend on.

“With this plan, Canada and the Peace Country will emerge from this global recession with better infrastructure, lower taxes, and a more competitive economy,” said Warkentin. 

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For more information, please contact Mr. Warkentin’s office at: (613) 992-5685 or visit www.budget.gc.ca.