Canada has outperformed all other G-7 economies in job creation over the recovery 2 Economic Action Plan 2014

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Canada has outperformed all other G-7 economies in job creation over the recovery

Economic Action Plan 2014

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Job creation during the recovery has been in high-wage, full-time, private-sector employment


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The Government remains on track to return to balanced budgets in 2015


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Private sector economists expect both real and nominal GDP growth to pick up this year and next


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Canada has performed better than most other G-7 economies during the global recession and the recovery


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Federal debt as a share of GDP is expected to decline next year and to fall to 25 per cent of GDP by 2021


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What does this mean for Ontario?

• Ontario will receive significant support through major federal transfers in 2014-15.

• All major federal transfers to provinces and territories will grow from current record levels, totaling $65 billion in 2014-15, an increase of 56% since 2005-06 under the former Liberal government

• For Ontario, Total Major Transfers will total $19.2 billion in 2014-15, including:

• Almost $2 billion through Equalization

• $12.3 billion through the Canada Health Transfer, an increase of $4.6 billion, or almost 60% since 2005-06 under the former Liberal government

• $4.8 billion through the Canada Social Transfer, an increase of almost $1.7 billion, or almost 53% since 2005-06 under the former Liberal government


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Connecting Canadians with Available Jobs

• Launching the Canada Job Grant: Helping Canadians get the skills they need to get in-demand jobs.

• Helping Canadians with Disabilities: Providing $222 million to create new Labour Market Agreements for Persons with Disabilities to better help Canadians with disabilities get the skills they need to fill available jobs.

• Supporting Persons with Disabilities: Providing $15 million to the Ready, Willing & Able Initiative and $11.4 million to Community Works to help persons with intellectual disabilities and Autism Spectrum Disorders participate in the workforce.

• Creating the Canada Apprentice Loan: Helping apprentices registered in Red Seal trades complete their training by providing access to over $100 million in interest-free loans each year.

• Supporting Canada’s Entrepreneurs: Providing an additional $40 million to the Canada Accelerator and Incubator Program to help entrepreneurs across the country create new companies and realize the potential of their ideas.


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Continued

• Supporting Apprenticeship Training: Introducing pilot projects to expand the use of innovative approaches to training apprentices.

• Supporting Youth Employment: Investing $40 million for up to 3,000 internships in high demand fields and $15 million for up to 1,000 internships in small and medium-sized businesses.

• Encouraging Women to Become Entrepreneurs: Providing $150,000 to increase mentorship among women entrepreneurs.

• Supporting Students and Interns: Renewing the Computers for Schools Program with a $36 million investment to continue to provide students and interns across the country with computers, helping them get the skills they need to succeed in today’s modern economy.

• Helping Older Workers Get Back to Work: Investing $75 million to renew and expand the Targeted Initiative for Older Workers so that older Canadians can continue to contribute to Canada’s economy.

• Strengthening Canada’s Labour Market: Launching an enhanced Job Matching Service and Modernized Job bank to ensure Canadians are given the first chance at available jobs.


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Supporting Job Creation, Innovation and Trade

• Cutting Red Tape for Small Business: eliminating the requirement for 800,000 payroll remittance by 50,000 small and medium-sized businesses

• Making Landmark Investments in Research and Innovation:• $1.5 billion over the next decade for post-secondary research through the Canada

First Research Excellence Fund.• $500 million to support a competitive auto sector through the Automotive Innovation

Fund.• $46 million in new funding to the granting councils to support research and scientific

discoveries across Canada.


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Supporting Families and Communities

• Strengthening Canada’s Food Safety System: Investing over $150 million to enhance the Canadian Food Inspection Agency’s food safety programs to ensure that Canada’s food supply is safe.

• Expanding health-related tax relief: Removing the GST / HST on more health care products and services to better reflect the health care needs of Canadians.

• Increasing the Adoption Tax Credit: Increasing the Adoption Expense Tax Credit to $15,000 to better recognize the costs associated with adopting a child.

• Supporting Seniors: Providing an additional $5 million to the New Horizons for Seniors Program so that more seniors can actively participate in their communities.

• Honouring our Veterans: Providing over $100 million to expand the Funeral and Burial Program to ensure that veterans of modest means have access to a dignified funeral and burial.


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Continued

• Increasing Access to Veterans Services: Providing $2 million to enable veterans and their families access to engage the Department of Veterans Affairs 24 hours a day, 7 days a week.

• Protecting our Communities: Providing up to $200 million to establish a National Disaster Mitigation Program to better protect Canadians and their communities from natural disasters.

• Protecting Against Floods: Working with the insurance industry and provinces to develop a national approach to residential flood insurance in Canada.


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Infrastructure investments in the GTA (2006-2013)

Over $4.5 billion has been invested in Greater Toronto Area infrastructure projects by our government from February 2006 to June 2013. These investments can be broken down as follows:

$2,299,674,604 ($2.3 billion) in direct GTA infrastructure projects:

• Arts & Culture $82,653,702

• Green Energy $5,758,175

• Local Roads $86,523,787

• National Highway System $41,500,000

• Public Transit $1,660,928,743

• Recreation $86,189,964

• Sport $35,559,425

• Wastewater $154,388,076

• Water $56,125,436

• Other $90,047,296


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GTA Transit

TOP PUBLIC TRANSIT FEDERAL GTA PROJECTS:

• Toronto-York Spadina Subway Extension $622,000,000

• GO Transit Package $250,000,000

• Union Station Revitalization $133,000,000

• Mississauga Bus Rapid Transit $83,000,000

• Brampton AcceleRide Phase I $53,000,000

• GO Transit East Rail Maintenance Facility(P3) $94,800,000

• 2. $2,196,144,520 ($2.2 billion) in Gas Tax Fund directly to::

• City of Toronto $1,024,698,448

• Peel Region $222,598,352

• Mississauga $131,823,271


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Moving Forward for Communities

Renewal of the Build Canada Fund for an additional 10 years and $53

Billion that will directly impact Canadian infrastructure


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Questions?


Documents

Canada has outperformed all other G-7 economies in job creation over the recovery 2 Economic Action Plan 2014