Budget 2010—Leading The Way on Jobs and Growth

March 04, 2010

The Conservative Government has launched an ambitious new federal budget focused on job creation and growth to support Canada’s economic recovery. The budget also included a disciplined long-term plan to return to balanced budgets.

“Our Government presented a jobs and growth budget,” said Phil McColeman, Member of Parliament for Brant. “We are completing Year Two of our Economic Action Plan to create and protect jobs now. We are also taking new, targeted measures to fuel new jobs in the future. Our forward-looking action will secure Canada’s economic growth for today and tomorrow.”

The budget plan has three key objectives.

First, it confirms $19 billion in new federal stimulus under Year 2 of Canada’s Economic Action Plan to create and protect jobs. This includes many job-creating projects in Ontario such as $9.8 million over two years to support the Algoma Central Railway and the Toronto Northland Transportation Commission.

Second, Budget 2010 invests in a limited number of new, targeted initiatives to build jobs and growth for the economy of tomorrow, harness Canadian innovation, and make Canada a destination of choice for new business investment.

Third, it outlined a three-point plan for returning to budget balance once the economy has recovered. This includes ending the temporary stimulus measures
as promised, restraining growth in spending through targeted measures and additional restraint through an in-depth review of administrative functions and overhead costs.

Unlike the other political parties in Ottawa, the Government has been clear that it will not raise taxes or reduce transfers to provinces like Ontario, and seniors in the years ahead.

In fact, Budget 2010 confirmed the Conservative Government’s strong support for provinces.

Ontario will continue to receive increased federal support through Budget 2010. Total transfers will hit $18.8 billion in 2010-11, an increase of $801 million from last year and $6.9 billion than under the old Liberal government.

While the Liberals starved provinces and municipalities of much-needed support, the Conservative Government increased key transfers such as $972 million through Equalization; $9.9 billion through the Canada Health Transfer, an increase of $243 million from last year; and $4.3 billion in social transfers, an increase of over $1.2 billion since 2005-06 (or 36.6 per cent).

This long-term support helps ensure Ontario has the resources needed to provide essential public services including health care, post-secondary education and other social services.

For more information on how Canada’s Economic Action Plan benefits them, Canadians are encouraged to visit www.budget.gc.ca.