Budget 2010: Leading the Way on Jobs and Growth…

March 01, 2010

On March 4, 2010 the Honourable Minister of Finance Jim Flaherty announced our Government’s 2010 Budget Plan that focuses on job creation and growth to support Canada’s economic recovery. The budget also includes a disciplined long-term plan to return to balanced budgets.

Budget 2010 has three key objectives. First, it confirms $19 billion in new Federal stimulus spending under Year 2 of Canada’s Economic Action Plan to create and protect jobs. Second, Budget 2010 invests in targeted initiatives to build jobs and grow the economy for tomorrow by harnessing Canadian innovation and making Canada a destination of choice for new business investment. Thirdly, the Budget outlines a three-point plan to balance the budget once the economy is recovered. This includes ending the temporary stimulus package, restraining growth in spending through targeted measures and an in depth review of Government’s administrative functions and overhead costs. These steps will cut the deficit in half in two years, by two-thirds in three years, and fully balanced shortly thereafter.

Benefiting Calgary…

Alberta will receive increased Federal support through Budget 2010 with total transfers hitting $4.2 billion in 2010-11, an increase of $88 million from last year. Our Government’s new Budget will provide $391 million in personal tax relief to help workers and families in Alberta manage these difficult economic times.

Alberta communities and businesses will benefit from $14.7 million per year in ongoing funding for Western Diversifaction to support  commercialization, enhance global competitiveness and drive economic growth and development in communities in Western Canada.

Calgarian’s will also enjoy $43 million as its share of the $1 billion Community Development trust and the $400 million Police Officers Recruitment Fund. Calgary will also welcome the construction of a new Sports Hall of Fame.