2009 Canadian federal budget - AbsoluteAstronomy.com

The Canadian federal budget
Canadian federal budget
In Canada, federal budgets are presented annually by the Government of Canada to identify planned government spending, expected government revenue, and forecast economic conditions for the upcoming year....

for the 2009-2010 fiscal year was presented to the Canadian House of Commons

Canadian House of Commons

The House of Commons of Canada is a component of the Parliament of Canada, along with the Sovereign and the Senate. The House of Commons is a democratically elected body, consisting of 308 members known as Members of Parliament...

by Finance Minister Jim Flaherty

Jim Flaherty

James Michael "Jim" Flaherty, PC, MP is Canada's Minister of Finance and he has also served as Ontario's Minister of Finance. From 1995 until 2005, he was the Member of Provincial Parliament for Whitby—Ajax, and a member of the Progressive Conservative Party caucus...

on January 27, 2009. The federal budget

Canadian federal budget

In Canada, federal budgets are presented annually by the Government of Canada to identify planned government spending, expected government revenue, and forecast economic conditions for the upcoming year....

included $40 billion in stimulus and $20 billion in personal income tax cuts.

The Budget Implementation Act, 2009 was introduced in the House of Commons

Canadian House of Commons

on February 6, 2009, and it received royal assent

Royal Assent

The granting of royal assent refers to the method by which any constitutional monarch formally approves and promulgates an act of his or her nation's parliament, thus making it a law...

on March 12, 2009, enacting the legislative changes necessary to implement the budget.

Areas of direction

Some of the key items in the budget are:

$12 billion in new infrastructure stimulus funding for roads, bridges, broadband internet access
Broadband Internet access
Broadband Internet access, often shortened to just "broadband", is a high data rate, low-latency connection to the Internet— typically contrasted with dial-up access using a 56 kbit/s modem or satellite Internet with inherently high latency....

, electronic health records, laboratories and border crossings across the country.
$20 billion in personal income tax
Income taxes in Canada
Income taxes in Canada constitute the majority of the annual revenues of the Government of Canada, and of the governments of the Provinces of Canada...

relief
$7.8 billion to build quality housing, stimulate construction and enhance energy efficiency
Efficient energy use
Efficient energy use, sometimes simply called energy efficiency, is the goal of efforts to reduce the amount of energy required to provide products and services. For example, insulating a home allows a building to use less heating and cooling energy to achieve and maintain a comfortable temperature...

.
Increasing the basic personal amount that all Canadians can earn without paying federal income tax.
Raising the upper limit of the two lowest personal income tax brackets by 7.5 per cent so that Canadians can earn more at lower tax rates.
Increasing the amount that low- and middle-income families can earn before their federal child benefits
Canada Child Tax Benefit
The Canada Child Tax Benefit is a tax-free monthly payment available to eligible Canadian families to help with the cost of raising children...

are phased out.
Investing $580 million to effectively double the tax relief provided by the Working Income Tax Benefit.
Providing tax savings of up to $150 a year for seniors by increasing the Age Credit amount by $1,000.
The temporary Home Renovation Tax Credit of up to $1,350 for eligible home renovations and alterations.
An increase to the Home Buyers’ Plan withdrawal limit to $25,000 from $20,000 to help Canadians buy a first home.
A new First-Time Home Buyers’ Tax Credit that will provide up to $750 in tax relief when purchasing a first home.
$300 million over two years to the ecoENERGY Retrofit
Ecoenergy
Natural Resources Canada's ecoENERGY Retrofit program provides financial support to homeowners, small and medium-sized businesses, public institutions and industrial facilities to help them implement energy saving projects that reduce energy-related greenhouse gases and air pollution, thereby...

program.
$1 billion over two years for renovation and energy retrofits to social housing.
$400 million over two years to build housing for low-income seniors.
$75 million over two years to build social housing for persons with disabilities.
$200 million over two years to support social housing in the North
Northern Canada
Northern Canada, colloquially the North, is the vast northernmost region of Canada variously defined by geography and politics. Politically, the term refers to the three territories of Canada: Yukon, Northwest Territories, and Nunavut...

.
$2 billion over two years in low-cost loans to municipalities to improve housing-related infrastructure.
$1 billion over five years for a green infrastructure fund.
Up to $500 million over the next two years to accelerate infrastructure projects in small communities.
$1 billion over two years to expedite new "ready-to-go" provincial, territorial and municipal projects.
$4 billion over two years to restore aging infrastructure.
$500 million over two years to Recreational Infrastructure Canada (RInC) to build and renew community recreational facilities.
$2 billion for repair, maintenance and construction of post-secondary institutions.
$750 million to the Canada Foundation for Innovation
Canada Foundation for Innovation
Created by the Government of Canada in 1997, the Canada Foundation for Innovation strives to build our nation’s capacity to undertake world-class research and technology development to benefit Canadians...

to support leading-edge research infrastructure.
$50 million to the Institute for Quantum Computing
Institute for Quantum Computing
The Institute for Quantum Computing, or IQC, located in Waterloo, Canada, is an affiliate research institute of the University of Waterloo with a multidisciplinary approach to the field of quantum information processing.-IQC's Mission:...

for a new research facility.
$250 million over two years for deferred maintenance at federal laboratories.
$500 million to Canada Health Infoway
Canada Health Infoway
Canada Health Infoway is an independent, federally-funded, not-for-profit organization tasked with accelerating the development of electronic health records across Canada. As a strategic investor, they work with Canadian provinces and territories with the goal of creating an electronic health...

for electronic health records.
$225 million over three years to extend broadband coverage to unserved communities.
$407 million for improvements to Via Rail
VIA Rail
Via Rail Canada is an independent crown corporation offering intercity passenger rail services in Canada. It is headquartered near Montreal Central Station at 3 Place Ville-Marie in Montreal, Quebec....

service.
$72 million over five years to improve railway safety.
$130 million to Parks Canada
Parks Canada
Parks Canada , also known as the Parks Canada Agency , is an agency of the Government of Canada mandated to protect and present nationally significant natural and cultural heritage, and foster public understanding, appreciation, and enjoyment in ways that ensure their ecological and commemorative...

for Trans-Canada Highway
Trans-Canada Highway
The Trans-Canada Highway is a federal-provincial highway system that joins the ten provinces of Canada. It is, along with the Trans-Siberian Highway and Australia's Highway 1, one of the world's longest national highways, with the main route spanning 8,030 km...

twinning.
$150 million for visitor improvements and upgrades to Parks Canada
Parks Canada
Parks Canada , also known as the Parks Canada Agency , is an agency of the Government of Canada mandated to protect and present nationally significant natural and cultural heritage, and foster public understanding, appreciation, and enjoyment in ways that ensure their ecological and commemorative...

.
$212 million to renew the Champlain Bridge in Montreal.
$57 million for the renewal of other key federal bridges across Canada.
$80 million over three years to expand and modernize border service facilities.
$217 million for core commercial fishing harbours across Canada.
$323 million over two years to restore federal buildings.
$87 million over two years for key Arctic research facilities.
$20 million in each of two years to improve the accessibility of federally owned buildings for persons with disabilities.
$296 million to enhance air passenger security.
$1 billion for clean energy research, development and demonstration projects.
$110 million over three years for space robotics research and development.
$81 million over two years to accelerate the cleanup of federal contaminated sites.
$1 billion for green infrastructure
Green infrastructure
Green Infrastructure is a concept originating in the United States in the mid-1990s that highlights the importance of the natural environment in decisions about land use planning. In particular there is an emphasis on the "life support" functions provided by a network of natural ecosystems, with an...

projects.
$1 billion over two years for renovation and energy retrofits to social housing.
$300 million over two years to the ecoENERGY Retrofit program.
$1 billion for clean energy research, development and demonstration projects.
$87 million over two years for key Arctic research facilities.
$245 million over two years for the cleanup of federal contaminated sites.
$10 million to improve government environmental reporting.
A 14-week extension of work-sharing agreements to a one-year maximum.
$50 million over two years to cover severance pay owed to eligible employees of bankrupt companies.
A five-week extension to all regular Employment Insurance (EI) benefits for two years.
Continued low EI premium rates of $1.73 for 2009 and 2010, providing relief of $4.5 billion over two years.
$500 million to extend EI benefits for workers in longer-term training.
$1.5 billion over two years for EI and non-EI training programs.
$55 million over two years for youth employment.
$60 million over three years for the Targeted Initiative for Older Workers.
$40 million a year to launch the $2,000 Apprenticeship Completion Grant.
$87.5 million over three years to expand the Canada Graduate Scholarships program.
$50 million for the Pan-Canadian Framework for the Assessment and Recognition of Foreign Qualifications.
An additional $50 billion for the Insured Mortgage Purchase Program, increasing its size to $125 billion.
$13 billion to increase the lending of Crown corporations, of which $5 billion will be delivered through the new Business Credit Availability Program.
$12 billion for a Canadian Secured Credit Facility to support financing of vehicles and equipment.
An increase in the loan limit for small businesses under the Canada Small Business Financing Program
Federal financing for small businesses in Canada (grants and loans)
Federal financing for small businesses in Canada is facilitated via a number of programs and agencies. Financing is available in the form of grants , loans, loan guarantees, income support and subsidized hiring and/or training programs...

.
A two-year, 100-per-cent capital cost allowance (CCA)
Capital Cost Allowance
Capital Cost Allowance is effectively the means by which Canadian businesses may claim depreciation expense. Depreciable items are deemed to belong to different classes which depreciate at different rates and are subject to different rules...

rate for investment in computers.
A two-year extension of the temporary 50-per-cent straight-line accelerated CCA rate to investment in manufacturing or processing machinery and equipment undertaken in 2010 and 2011.
Over $440 million in savings for Canadian industry over the next five years by eliminating tariffs on a range of machinery and equipment.
$170 million over two years to support innovation and marketing for the forestry sector.
$500 million over five years to facilitate new agricultural initiatives.
$50 million over three years to strengthen slaughterhouse capacity.
$175 million to buy new coast guard vessels and refurbish aging vessels.
Over $335 million over two years for cultural and arts programs, including television, print media, museums, libraries and local theatres.
$40 million over two years for tourism marketing activities.
$50 million per year for marquee festivals and other tourist events.
An increase to $500,000 in the amount of small business income eligible for the reduced federal tax rate of 11 per cent.
$30 million over two years for the Canada Business Network.
$200 million over two years to support industrial research for small and medium-size businesses.
More than $1 billion over five years for a Southern Ontario development agency to support economic development in Southern and Eastern Ontario.
$1 billion over two years for a Community Adjustment Fund (CAF) to lessen the impact of economic adjustment.
$50 million for a new regional agency, and economic development in the North.
A one-year extension of the temporary 15-per-cent mineral exploration tax credit.
$515 million over two years to accelerate "ready-to-go" First Nations
First Nations
First Nations is a term that collectively refers to various Aboriginal peoples in Canada who are neither Inuit nor Métis. There are currently over 630 recognised First Nations governments or bands spread across Canada, roughly half of which are in the provinces of Ontario and British Columbia. The...

projects in three priority areas: schools, water, and critical community services.
$400 million over two years for social housing for First Nations on reserves.
$100 million over three years in the Aboriginal Skills and Employment Partnership.
$75 million in a two-year Aboriginal Skills and Training Strategic Investment Fund.
$305 million over two years to improve health outcomes for First Nations and Inuit people.
$20 million over two years to improve child and family services on reserves.

Opposition and approval

The NDP

New Democratic Party

The New Democratic Party , commonly referred to as the NDP, is a federal social-democratic political party in Canada. The interim leader of the NDP is Nycole Turmel who was appointed to the position due to the illness of Jack Layton, who died on August 22, 2011. The provincial wings of the NDP in...

, and Bloc

Bloc Québécois

The Bloc Québécois is a federal political party in Canada devoted to the protection of Quebec's interests in the House of Commons of Canada, and the promotion of Quebec sovereignty. The Bloc was originally a party made of Quebec nationalists who defected from the federal Progressive Conservative...

announced shortly following the presentation of the budget that they would not support it in its initial form, but the budget was passed on February 3, 2009, with the support of the Liberals after the government agreed to support a Liberal amendment to the budget motion calling for regular reports to parliament

Parliament of Canada

The Parliament of Canada is the federal legislative branch of Canada, seated at Parliament Hill in the national capital, Ottawa. Formally, the body consists of the Canadian monarch—represented by her governor general—the Senate, and the House of Commons, each element having its own officers and...

on the implementation and costs of the budget. All MPs for the NDP and the Bloc and the six Liberal members from Newfoundland and Labrador

Newfoundland and Labrador

Newfoundland and Labrador is the easternmost province of Canada. Situated in the country's Atlantic region, it incorporates the island of Newfoundland and mainland Labrador with a combined area of . As of April 2011, the province's estimated population is 508,400...

voted against the budget.

External links

The source of this article is wikipedia, the free encyclopedia. The text of this article is licensed under the GFDL.

Areas of direction

Opposition and approval

See also

External links