As Canada emerges from the global economic crisis, the Government of Prime Minister Stephen Harper remains focused on jobs and growth. That’s why the Government is completing the second and final phase of Canada’s Economic Action Plan to protect the fragile recovery, help Canadians get back to work and prepare us to emerge stronger than ever.
Supporting Families and Communities
Our Economic Action Plan builds on the Government’s earlier tax reductions such as cutting the GST from seven to five percent by providing another $20 billion in personal income tax relief. The Plan helps the hardest-hit Canadians by providing over $8 billion to extend Employment Insurance benefits, fund job training programs and freeze EI rates. To help communities and regions that depend on hard-hit sectors like auto, forestry and manufacturing, the Plan provides a further $7.5 billion to protect jobs and help industries adapt and compete in the global markets of the 21st century.
Stimulating our Economy
Working in close cooperation with the provinces and territories, the Government is embarked on the largest infrastructure renewal program in half a century. Our Economic Action Plan is stimulating Canada’s economy to preserve and create jobs by speeding up investment in infrastructure that will support our future prosperity, including roads, bridges, transit systems, broadband Internet access, scientific and technological research and development, and clean energy projects. In all, more than 16,000 projects are putting Canadians to work from coast to coast to coast.
Returning to Balance
Our Government is preparing for a return to balanced budgets once the second phase of Canada’s Economic Action Plan is completed. This is essential, not as an end in itself, but in order to protect Canada’s long-term economic prosperity.
To that end we have a clear, three-part plan: phasing out stimulus spending, restraining growth in other government spending, and promoting economic growth. Among other measures, we are continuing to expand Canada’s international trade and to create the green jobs befitting our growing stature as a clean energy superpower.
Staying the Course on Long-term Priorities
While the Government is focused on guiding Canada through the global economic crisis, it is also attending to our other important long-term priorities, including rebuilding the Canadian Forces, improving food and product safety regulations, cracking down on gun, gang and drug crime, asserting our sovereignty in the Arctic and strengthening Canada’s economic union.