MP Report by Jay Hill, M.P.
“Staying on Course Towards Economic Recovery”
The results are in and they are impressive. This week, our Conservative Government presented our third report on the implementation of Canada’s Economic Action Plan which clearly demonstrates that in just over 100 days we’re already stimulating the economy and protecting and creating Canadian jobs.
Thanks to our rapid response, 90% of the Plan is already being implemented. Funds have been committed to 7,500 infrastructure projects with 4,000 projects already launched in the first six months of our 24-month plan. Job creating projects in communities all across Canada are underway to help cushion us against the impact of the global economic recession.
What’s more, these activities will ensure that our cities, towns and villages possess critical infrastructure – roads, bridges, recreation facilities, sewers, water systems and more – so that communities and residents can thrive and flourish for decades to come.
While in Vancouver last week I was joined by the Premier to announce the latest round of British Columbia projects in which the federal, provincial and municipal governments will invest. A further 174 projects totalling $719-million will soon add to the frenzy of construction activity that BC residents have been witnessing throughout the past several months.
Other pivotal measures in the Economic Action Plan that have also been implemented include:
- Reducing the tax burden on Canadian families and businesses through significant permanent personal income tax relief and moving towards the most competitive overall tax rate on new business investment among industrialized countries.
- Delivering targeted, additional financial assistance to Canadians who are currently out of work, while providing skills training to help them prepare for the jobs of the future.
- Boosting the retail and construction industries through the Home Renovation Tax Credit and the First Time Home Buyers’ Tax Credit.
- Ensuring the continued stability of the Canadian financial system, which has been recognized as a world leader, and improving access to financing for Canadian families and businesses.
Canada came into this global recession on strong financial footing. Our Conservative Government aggressively paid down debt, thereby allowing us to introduce temporary stimulus measures so we could swiftly come to the aid of Canadians when they needed it most.
Our significant tax reductions have made Canada a more attractive place to live, invest and do business. Tax Freedom Day now arrives 20 days earlier than when we took office. Our financial sector remains strong and Canadian banks are secure and the most stable globally. And Canada’s unemployment rate is a full point lower than the United States for the first time in over 30 years.
Our strategic actions both before and during the recession have had a positive effect. We’ve begun to see stabilization in Canada’s economic situation well in advance of other countries, as well as the early beginnings of a recovery.
However, this recovery is fragile. We are not out of the woods yet, which is why it’s crucial that we continue to implement our Plan.
It’s our Conservative Government’s intention to stay on course, including in Parliament, to ensure that Canadians continue to reap the benefits of our Economic Action Plan!