Economic Uncertainty in the World...

February 04, 2009

The world is experiencing an extraordinary period of economic uncertainty and Canada is not immune from the global economic recession. While the root causes of the crisis are foreign, the affects are being felt here.

Early Action:
Our government took proactive steps to strengthen Canada’s economy by reducing income taxes, business and sales taxes, paying down billions of dollars in debt, investing in knowledge and infrastructure, and providing stability in mortgages and real estate markets. This course of action allowed Canada to enter the recession later than other industrialized nations and has placed us in a stronger position than most countries to face the present crisis.

The Next Step:
On January 27th, Finance Minister Jim Flaherty introduced Budget 2009: Canada’s Economic Action Plan, a comprehensive strategy to spur economic growth, restore confidence, and support Canadians and their families. Key measures include:

• $12 billion in new funding for roads, bridges, broadband internet access, electronic health records, laboratories and border crossings;
• $20 billion in personal income tax relief over six years and;
• $7.8 billion in support for the housing sector, including a $2 billion investment in social housing.

Protecting our fiscal advantage and returning to surplus:
Although expensive and extraordinary, the measures taken in Canada’s Economic Action Plan will preserve Canada’s fiscal advantage and allow a return to balanced budgets within five years. This will ensure Canada emerges from the recession in a strong economic and fiscal position.
 
Contact us…

Calgary Centre residents requiring assistance may contact my office by mail, phone, fax, e-mail or appointment. Our constituency office contact information is:

Lee Richardson, M.P.
Suite 105, 1410 11th Ave SW
Calgary, AB T3C 0M8
Phone: (403) 244-1880
Fax: (403) 245-3468
E-mail: Richardson.L@parl.gc.ca
Website: www.leerichardson.ca