January 28, 2009

OTTAWA, January 28, 2009 - Ben Lobb, Member of Parliament for Huron-Bruce, praised the Government’s leadership in delivering a comprehensive budget for Canadians.

Yesterday, the Honourable Jim Flaherty, Minister of Finance, tabled Budget 2009 - Canada's Economic Action Plan.  This plan will stimulate economic growth, restore confidence, and support Canadians and their families during a synchronized global recession.

Canada’s Economic Action Plan is the result of the most comprehensive pre-budget consultations ever. "The Minster of Finance as well as individual M.P.'s listened to people and groups across Canada about the steps we should take in Budget '09," said Lobb. "There are numerous measures in this budget that will benefit residents of Huron-Bruce."

Some of the key investments that will benefit Huron-Bruce include:

• The creation of the Southwestern Ontario Regional Development Agency, which will provide more than $1 billion over 5 years to help workers, communities and businesses.
• An investment of $500 million over 5-years through the Agri flex program to help the agriculture sector improve its competitiveness and respond to market challenges.
• $20 billion in personal income tax relief over 2008–09 and the next five fiscal years.
• Strengthening the EI program to provide a broad range of financial support to help individuals and their families in difficult times.
• Creation of the Home Renovation Tax Credit that provides incentives of up to $1,350 for constituents to undertake new renovation projects or accelerate planned future projects.
• Budget 2009 accelerates and expands the recent historic federal investment in infrastructure with almost $12 billion in new stimulus funding over two years, so that Canada emerges from this economic crisis with more modern and greener infrastructure.
• Numerous investments in Social Housing to provide Canadians with quality housing at affordable rates, including $400 million for the construction of social housing units for low-income seniors and $75 million over two years for the construction of social housing units for persons with disabilities.

"Canada’s Economic Action Plan will provide relief for people who need it the most and help the Canadian economy get back on its feet." Lobb said.
In addition to these measures, Ontario will continue to receive historically high and growing federal transfers in 2009-10 that will total $15.8 billion - an increase of $1.5 billion from last year and a $4.3 billion increase over the former Liberal government. What’s more, Ontario will see growing health ($9.6 billion) and social ($4.2 billion) transfers to help the province pay for vital health care, educational and social services families depended on.

Canada’s Economic Action Plan will provide almost $30 billion in support to the Canadian economy this year. In total, this is equivalent to 1.9 per cent of our GDP..

For more information please visit: http://www.budget.gc.ca/2009/home-accueil-eng.asp